Trading blocs and exchange rates Flashcards
1
Q
what are trading blocs?
A
a group of countries that have come together to engage in free trade, making trade with outside countries harder
2
Q
What is the world trade organization?
A
3
Q
what are the disadvantages to trading blocs?
A
trade outside of the bloc is more expensive, you can usually only be apart of 1 bloc, can no longer negotiate trade deals outside of the bloc
4
Q
what are the advantages to trading blocs?
A
