Regional Economic Integration

Integration

100

True or False

Integration can lead to better resources allocation and shared infrastructure projects?

True

200

True of False

Economic integration can enhance the region's resilience to external shocks, such as natural disasters or global economic downturns.

True

300

True/ False

Economic integration often results in increase trade costs, improved availability and variety of goods and services, and lower efficiency, all of which contribute to greater purchasing power

False

Economic integration often results in reduced trade costs, improved availability and variety of goods and services, and increased efficiency, all of which contribute to greater purchasing power

400

Which union highlights integration among 27 countries?

EU- European Union

500

What is Regional Integration?

Regional Integration is the economic and political steps taken by member states of a union to increase their global competitiveness.

Regional

100

Free flow of capital labor and commerce is related to?

Common Market

200

What the abbreviation "NAFTA" represent?

North American Free Trade Agreement-An agreement among the U.S.A., Canada, and Mexico

300

What regional body are the Caribbean nations apart of ?

CARICOM

400

Which bank oversees the monetary policy for the Eurozone, while EU-wide policies aim to harmonize fiscal policies and regulations across member states further enhancing economic integration.

The European Central Bank (ECB)

500

A large integrated market that is attractive to foreign Market represent?

FDI- Foreign Direct Investment

Economic

100

Which union is created by agreement?

Economic Union

200

There are no tariffs and quotas within groups, this form is known as?

Free Trade

300

The form of economic that : Remove barriers to trade among members and set a common trade against nonmembers.

Customs Union

400

This form signifies possibly the most advanced type of integration with a common government.

Political Union

500

Name two economic challenges?

^{Small Market Size and Lack of Diversification}

^{Vulnerability to External Shocks}

^{Unequal Distribution of Resources and Development Levels}

^{Trade Barriers and Inefficiencies}

^{Financial Limitations}