Socio-economic grouping + trade blocs Flashcards
1
Q
3 reasons for grouping
A
Trade
Global governance
Defence
2
Q
Trade
A
Remove barriers between group while protecting group from competition exposure
3
Q
Global governance
A
Ensure financial stability, allows united action
4
Q
Defence
A
Collective security and data/ intelligence sharing
5
Q
Types of alliance
A
Free trade area
Customs union- Single protectionist policy
Common market- OPP+ free movement of labour and capital
Economic/monetary union union’s- +single currency
