Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

AQA A-Level Human Geography > 🌍Case Study - Trade Blocs > Flashcards

🌍Case Study - Trade Blocs Flashcards

You may prefer our related Brainscape-certified flashcards:
U.S. Geography flashcards World Geography flashcards
1
Q

What is SAARC?

A

South Asian Association for Regional Cooperation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Which countries are involved in SAARC?

A

Afghanistan, Bangladesh, Bhutan, India, Nepal, Maldives, Pakistan, Sri Lanka

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What does SAARC promote development of?

A

Economic and regional integration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are the main objectives of SAARC?

A

. Promote competition in the area
. Provide equitable benefits for all countries involved
. Increasing trade and economic cooperation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How does SAARC provide special preferences?

A

Preferences are given to aid development and to enhance/support least developed and landlocked countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How has tariff reduction been put into place within SAARC?

A

. Time frame was put in place
. An additional three years for least developed nations - gives them time to still benefit from other countries paying their tariffs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

How are human resources shared within SAARC?

A

Shared between countries to improve trade and also the lives of people in each of the countries involved

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is NAFTA?

A

The North American Free Trade Agreement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Which countries are part of NAFTA?

A

USA, Canada, Mexico

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Why was NAFTA set up?

A

To eliminate barriers to trade and facilitate cross border movement of goods and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What does NAFTA promote?

A

. Conditions of fair competition
. Increased investment opportunities
. Protection

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What was the time scale on NAFTA’s provisions?

A

Some implemented immediately, others over the next 15 years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What did NAFTA provide between the countries?

A

Greater equality on import tariffs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

How were the economies of the countries within NAFTA impacted?

A

GDP in all three countries grew by up to 40%, Canadian and US economies more integrated with Mexico

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

When was the EU founded?

A

1958

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Why was the EU founded?

A

To prevent further conflict between countries after the World Wars, particularly between France and Germany

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

When was the EU single market established and what changes did it bring?

A

1968, customs tariffs were no longer charged and economic growth was bigger than ever before

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

In the 1970s, what impact did EU growth have?

A

. More and more countries joined
. Influence of the EU began to fund development in poorer regions to create jobs and improve infrastructure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What global impact does the EU have?

A

. The largest world trade bloc
. Provides members with free trade with a much larger market than if they were separate.
. Provides common front in negotiating trade deals with larger economies eg. US and Russia

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

How does the size of the EU impact its influence?

A

. Can out-compete other economies.
. 1 in 7 jobs in Europe rely on EU trade

21
Q

How does the EU impact travel and migration?

A

Flow of EU citizens between countries is easy, lack of borders.

22
Q

How does the EU create inequality?

A

Fees paid in vs economic gain can be unequal, in 2016 the UK paid in £8.6 billion more than it received back, never been given more than paid in

23
Q

What does EFTA stand for?

A

The European Free Trade Association

24
Q

Which countries are a part of EFTA?

A

Iceland, Norway, Lichtenstein, Switzerland

25
Q

Why was EFTA established?

A

For the progressive elimination of customs duties on industrial products while not affecting agricultural or fisheries products

26
Q

How does EFTA’s trade policy work?

A

No formal trade policy and members free to trade with any non-EFTA nations, free to make their own deals

27
Q

How has EFTA impacted its members?

A

Trade has been improved greatly between the member countries as they aim to support each other

28
Q

How do the EU and EFTA overlap?

A

They work parallel, giving EFTA nations access to the single market and allowing them to still benefit from EU trade despite not being members. EFTA countries also have an open border policy to EU citizens.

29
Q

Where is MERCOSUR located?

A

South America

30
Q

What does MERCOSUR function as?

A

A customs union and free trade area with ambitions to become a common market

31
Q

Why was MERCOSUR set up?

A

During a period when Argentina and Brazil were longtime rivals, it was set up to improve relations through trade

32
Q

What have MERCOSUR countries agreed to?

A

Eliminating customs duties, implementing a common external tariff of 35% on certain imports from outside the bloc and adopting a common trade policy towards outside countries

33
Q

What is the main goal of MERCOSUR?

A

To standardise regulations between member countries in order to ease commerce.

34
Q

How do MERCOSUR countries trade with the wider world?

A

They have a number of third part free trade agreements including with Chile, Colombia and Israel

35
Q

Which countries are part of Pacific Alliance?

A

Chile Colombia, Mexico and Peru

36
Q

What is the main goal of Pacific Alliance?

A

To form an area of integration with the purpose of ensuring a complete freedom in the movement of goods, services, capital and people

37
Q

What is Pacific Alliance’s international goal?

A

To further free trade with a clear orientation towards Asia

38
Q

Which states are ‘observers’ within Pacific Alliance?

A

54 in total , including economic heavyweights such as Japan, China, Germany, USA and UK.

39
Q

How has Pacific Alliance aided economic growth?

A

All the countries involved have seen huge economic growth, seeing around 57% of Latin America’s foreign trade and 41% of total investment

40
Q

Which economies are the fastest growing within Pacific Alliance?

A

Peru and Chile, growth rates of up to 3.7% every year

41
Q

How have Peru’s exports changed since Pacific Alliance formed?

A

They have increased at an annual rate of 22.6% with an increase of external sale and exports of hydrocarbons, mining and agroindustry sectors

42
Q

What does OPEC stand for?

A

Organisation of Petroleum Exporting Countries

43
Q

Why was OPEC founded?

A

To improve communication among petroleum exporting countries as the world recovered from WWII

44
Q

What impact does OPEC have on trade?

A

As a trade agreement, OPEC has very little impact as all the countries trade the same product but it does control the trade between countries within the agreement and the ones they trade oil with.

45
Q

Visible trade

A

. Trade of goods are exchanged because they can be counted, weighed and given a value like food

46
Q

Invisible trade

A

. Trade of services are exchanged like tourism

47
Q

How much has trade increased from 1990-2014

A

60%

48
Q

What do countries outside the bloc have to do?

A

Pay an additional tariff to trade within the bloc

AQA A-Level Human Geography (58 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions