Regional trade areas such as European Union and NAFTA
Not what you're looking for?
What are the advantages and disadvantages of regional trade areas such as the European Union and NAFTA?
Purchase this Solution
Solution Summary
What are the advantages and disadvantages of regional trade areas such as the European Union and NAFTA
Solution Preview
Advantages:
Trading blocs have a very substantial impact on regional and world economies in the form of promoting bilateral trade between member nations. Further, it also promote the overall economic development of the region such as EU did for European countries. It has also led to the strengthening of the economies of nations in the bloc. Trading blocs have been successful in providing nations to set up operations in countries in their blocs which provide comparative advantage with respect to production of goods and services as well as enhanced cooperation among countries. For example, trade between US and Mexico grew with the formation of NAFTA. It also promote free trade between nations in the same bloc. In the case of European Union, it has led to advent of a single currency Euro which is ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
Recent Feedback
- "Thank you. "
- "Thank you"
- "Thank you. I got 20/20 last week for my discussion you help me out with."
- "Thank you. Great Job. "
- "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.