Political & economic environment
14 important questions on Political & economic environment
By what is the trade policy of EU-members primarily determined?
In which two ways is free trade restricted?
- Regional trading arrangements
- Protectionism
What is good about free trade of goods and services for the customer?
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What is the objective of a regional trading arrangement?
When looking at regional trading arrangements, what forms of cooperation are there?
- Free-trade bloc
- Customs union
- Common Market
- Economic & monetary union
Name the advantages of a free-trade bloc
- Efficient use of factors of production
- Stimulation of competition
- Prevention of trade wars
- Promotion of trade and investment
- Promotion of welfare
What is a common market?
How many member states of the EU use the euro as their currency?
Name 4 important tariff measures (protectionism)
- Import duties
- Turnover tax (VAT)
- Excise duties
- Preferential tariff measures
Name 6 important non-tariff measures (protectionism)
- Customs formalities
- Technical requirements
- Administrative procedures
- Quality requirements
- Export restrictions
- Subsidies
What is a trade embargo?
What do the UN aim for?
What does the WTO aim for?
What does the IMF aim for? (The International Monetary Fund is a specialist financial organisation of the UN)
The International Monetary Fund is an association of 186 countries that encourage worldwide monetary collaboration. The Fund's most important objective is to ensure the stability of the international monetary and financial system. Further, it strives for free international trade, high employment, sustainable economic development and the reduction of world poverty.
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