Asked by Melina Collins on Jun 24, 2024
Verified
Which of these trade agreements represents the highest level of integration among participating nations?
A) NAFTA
B) EU
C) GNI
D) ASEAN
E) CAFTA
EU
The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe, aimed at facilitating free trade, freedom of movement, and common legislation.
NAFTA
The North American Free Trade Agreement, an agreement among the United States, Canada, and Mexico designed to remove tariff barriers between the three countries.
Integration
The process of combining or coordinating separate elements or groups into a unified whole, often seen in businesses and technology systems.
- Acquire knowledge about the impact of tariffs and trade agreements on international marketing practices.
Verified Answer
AE
Allyson EversJun 26, 2024
Final Answer :
B
Explanation :
The EU represents the highest level of integration among participating nations, with a common currency, free movement of goods, services, people, and capital among member states, a common external trade policy, and a centralized decision-making system. NAFTA, CAFTA, GNI, and ASEAN are all trade agreements that involve varying levels of integration, but none approach the depth or scope of integration achieved by the EU.
Learning Objectives
- Acquire knowledge about the impact of tariffs and trade agreements on international marketing practices.