1.3 Brexit Means

What role do national governments play in terms of globalisation?

• They are key players in terms of promoting free trade blocs

• They discourage foreign direct investment (FDI)

• They have no significant role in globalisation

• They solely focus on privatisation

How many member states does the EU have?

• 25

• 28

• 27

• 30

What is the population of the EU's single market?

• 500 million

• 510 million

• 520 million

• 530 million

What does the standard set of laws in the EU provide for?

• Free movement of people, goods, services, and capital

• Free movement of people and goods only

• Free movement of services and capital only

• No free movement

Which of the following is a feature of the EU?

• Common healthcare policies

• Common trade policies

• Single official language

• Unified military forces

What type of currency union does the EU have?

• Dollar

• Yen

• Euro

• Pound Sterling

What term is used to describe the EU's decision-making process?

• Federal decision making

• Supranational decision making

• National decision making

• Autonomous decision making

What is a Free Trade Area?

• A group of countries with a common external trade policy.

• A group of states that have agreed to charge the same import duties as each other.

• A group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries.

• A group of countries within which tariffs and non-tariff trade barriers between the members are generally abolished but with no common trade policy toward non-members.

What is the main difference between a Customs Union and a Common Market?

• A Customs Union has a common external trade policy while a Common Market does not.

• A Common Market allows free trade between themselves while a Customs Union does not.

• A Common Market imposes many duties on trade with one another while a Customs Union imposes few or no duties.

• A Customs Union consists of states that do not agree on import duties while a Common Market does.

What additional feature does an Economic and Social Union have compared to a Common Market?

• It has a common external trade policy only.

• It allows free trade between member countries only.

• It includes common policies on product regulation, freedom of movement of goods, services, and factors of production.

• It charges the same import duties as each other only.