Stages of Economic Integration

Multiple Answers Possible: Select all the options below that are characteristics of the Economic Union stage of economic integration:

• No internal trade barriers

• Common External Tariff/CET

• Free movement of labour and capital

• Common currency and economic policies

• Political, social and cultural integration

Multiple Answers Possible: Select all the options below that are characteristics of the Free Trade Area stage of economic integration:

• No internal trade barriers

• Common External Tariff/CET

• Free movement of labour and capital

• Common currency and economic policies

• Political, social and cultural integration

Multiple Answers Possible: Select all the options below that are characteristics of the Common Market stage of economic integration:

• No internal trade barriers

• Common External Tariff/CET

• Free movement of labour and capital

• Common currency and economic policies

• Political, social and cultural integration

Multiple Answers Possible: Select all the options below that are characteristics of the Custom Union stage of economic integration:

• No internal trade barriers

• Common External Tariff/CET

• Free movement of labour and capital

• Common currency and economic policies

• Political, social and cultural integration

Caricom is an example of a/an:

• Free Trade Area

• Custom Union

• Common Market

• Economic Union

NAFTA is an example of a/an:

• Free Trade Area

• Custom Union

• Common Market

• Economic Union

The coming together of national economies to operate as one economy

• Economic Integration

• Globalization

• Teamwork

• CARICOM

The global integration of international trade, investment, information technology (IT), and cultures.

• Economic Integration

• Globalization

• Trading bloc

• CARICOM

What type of economic measure is being shown here?

• Economic Integration

• Globalization

• Protectionism

• Trade Liberalization

Groups of nations that come together to trade under a trading agreement

• Economic Integration

• Globalization

• Trading bloc

• CARICOM