4.1.5 Trade Blocs / WTO Flashcards
1
Q
What is a monetary union?
A
These are two or more countries with a single currency, with an
exchange rate that is monitored and controlled by one central bank.
Like the EU
2
Q
What is a common market?
A
Members trade freely in all economic resources so barriers to trade in goods, services, capital and labour are removed.
3
Q
What is the Eurozone?
A
