Exam 10: Multinational Market Regions and Market Groups

_________________ are those groups of countries that seek mutual economic benefit from reducing interregional trade and tariff barriers.

The initial aim of a multinational market is to protect businesses that operate within its borders.An expressed goal is to give an advantage to the companies within the market in their dealings with other countries of the market group.

The demise of the Latin American Free Trade Association (LAFTA)was the result of:

France is considering branching out from the European Union and revitalizing contacts with all of its old colonial territories.Though this approach is thought be difficult,the French have never been afraid of difficulty.One of the proposals on the table is to arrange all previous French colonies into a commonwealth.Characterize a commonwealth and describe whether you think this would be a workable model for the French as they attempt to expand their sphere of influence in the world.

One of the challenges facing the Union in the next 50 years is __________.

One of the challenges facing the Union in the next 50 years is __________.

The Arab Gulf states,Egypt,and Morocco worked out an agreement in 2005 on Arab Free Trade Area,sometimes called __________.

The __________ initiates policy and supervises its observance by member states,and it proposes and supervises execution of laws and policies.

One of the major events that has accounted for the vigorous economic growth of ASEAN countries is the decision by trade group members to shift their economies from commodity-based to manufacturing-based.

Characterize the European Union today.

_____________ is a comprehensive trade agreement that addresses,and in most cases improves,all aspects of doing business within North America.

was that the European Union agreed to abolish involvement with NATO and form their own political union and defense.

Essentially,a free trade area (FTA)provides its members with:

______________ has been the least aggressive of the regions in the world in the formation of successfully functioning multinational market groups.

For years prior to NAFTA,the United States and Canada had the largest bilateral trade agreement in the world.This agreement was aptly called a customs union.

The members of NAFTA are __________,_____________,and _____________.

Nations with complementary economic bases are most likely to encounter frictions in the development and operation of a common market unit.

The Treaty of _________ established the European Economic Community (EEC)in 1957 and called for common external tariffs and the gradual elimination of intra-market tariffs,quotas,and other trade barriers.

The blueprint for the European Union began with the Treaty of Rome in 1957.

The official European Union abbreviation for the Euro is __________.