A Speech on Trade Alliances (Scenario)
As manager of the international department for your company, you have been asked by the local Chamber of Commerce to deliver a speech on global trade. The presentation should include an overview of the world's major trade alliances and mechanisms that promote global trade. The Chamber president has also asked you to comment on a recent quote by a local politician, who stated: "NAFTA has been a bad deal for Canada and it continues to weaken our economy." As you review your notes, you wonder how you will fit all the information into the allotted half-hour presentation time!
-To help explain the main advantages of regional trade alliances,you will point out that EU member countries now have ________.
A)government subsidies
B)nationalistic policies
C)protected industries
D)a single market

Question

Quizplus · Accepted Answer

The main advantage of regional trade alliances, like the European Union (EU), is the creation of a single market. This means that member countries have eliminated trade barriers and tariffs, making it easier and cheaper to trade goods and services between them. The EU has also implemented common regulations and standards, which further promote trade by reducing trade barriers and increasing market efficiency. The other options do not accurately reflect the main advantages of regional trade alliances.