Chapter 8 notes - Chapter 8 Regional Economic Integration...

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Chapter 8 Regional Economic Integration Regional economic regulation - agreements among countries in a geographic region to reduce and ultimately remove tariff and nontariff barriers to the free flow of goods and services and factors of production between each other Free trade area - a group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies European Free Trade Organization - a free trade association including Norway, Iceland, Liechtenstein, and Switzerland Customs union - a group of countries committed to removing all barriers to the free flow of goods and services between each other, and the pursuit of a common external trade policy Common market - a group of countries committed to removing all barriers to the free flow of goods, services, and factors of production between each other, and the pursuit of a common external trade policy Economic union - a group of countries committed to removing all barriers to the free flow of goods, services, and factors of production; the adoption of a common currency; the
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This note was uploaded on 12/04/2011 for the course MKT 310 taught by Professor Tunga during the Summer '10 term at Michigan State University.

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Chapter 8 notes - Chapter 8 Regional Economic Integration...

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