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Question 493 - CSCP discussion

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The European Union (EU) is an example of:

A.
globalization.
Answers
A.
globalization.
B.
country-to-country commerce.
Answers
B.
country-to-country commerce.
C.
a nongovernmental organization (NGO).
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C.
a nongovernmental organization (NGO).
D.
a trading bloc.
Answers
D.
a trading bloc.
Suggested answer: D

Explanation:

The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe. It is considered a trading bloc because:

Free Trade Area: The EU promotes free trade among its member countries by eliminating tariffs and other barriers to trade.

Common Market: It allows for the free movement of goods, services, capital, and people within the member states.

Economic and Political Integration: The EU adopts common policies on various matters, including trade, agriculture, and regional development, fostering economic and political integration among its members.

Baldwin, R., & Wyplosz, C. (2019). The Economics of European Integration. McGraw-Hill Education.

McCormick, J. (2020). Understanding the European Union: A Concise Introduction. Palgrave Macmillan.

asked 16/09/2024
Yohan Frachisse
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