Free International Trade (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does free trade refer to?
What does free trade refer to?
Unrestricted exchange across borders
What is an open economy?
What is an open economy?
Economy engaging in international trade
What is a trading bloc?
What is a trading bloc?
Countries allowing free trade among them
What happens in a free trade area?
What happens in a free trade area?
Countries eliminate tariffs between them
What key feature does a customs union have?
What key feature does a customs union have?
Common external tariff
In a common market, what can move freely?
In a common market, what can move freely?
Goods, services, capital & labour
What is the European Union an example of?
What is the European Union an example of?
Single market & customs union
How does a customs union differ from a free trade area?
How does a customs union differ from a free trade area?
Has common external tariff
What do trading blocs eliminate among themselves?
What do trading blocs eliminate among themselves?
Tariffs & trade barriers
What is a common market described as?
What is a common market described as?
Step towards economic integration