mini chapter 9 connect reading

A(n) _________ market includes the aspects of a customs union and allows factors of production to move freely among members.

Common Market

What are three methods used to achieve economic integration? A. Economic union B. Common Market C. Customs union D. Military alliance E. Export-import bank

A. Economic union B. Common Market C. Customs union and free trade area, and a full political union

Which of these trade unions is made up of European countries that initially decided NOT to be part of the European Community and emphasized free trade in industrial goods? a. Intercontinental Free Trade Association b. Mid-Europe Free Trade Association c. European Free Trade Association d. NAFTA

European Free Trade Association

Over the past two decades, there has been an increase in regional ______ that encourage regional economic integration.

Trade blocs

The _____ concentrated in the trade of industrial goods and was made up of European countries that did not initially join the European Community. a. EFTA b. NAFTA c. CAFTA d. EU

a. EFTA European Free Trade Association

A customs union is put in place to _____. a. regulate foreign trade policy among members b. instigate political rivalry between member countries c. create a separate external trade policy for each member country d. establish trade barriers between member countries

a. regulate foreign trade policy among members

In which level of economic integration are all barriers to trade among member countries removed? a. customs union b. free trade area c. economic union d. common market

b. free trade area

One of the first steps to economic and political integration is a(n) _______ union, where trade barriers among member nations are removed and a common trade policy is adopted.

customs union

In terms of economic integration, the least integrated level of integration is a(n) _____.

free trade area

Lauren's company is eager to trade with Canada because there are no quotas or subsidies on the product they want to sell there. This describes a _____.

free trade area