Effects of Regional Trading Blocs on International Trade
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Questions and Answers

What is the term for increased trade among member countries of a trading bloc?

  • Trade creation (correct)
  • Trade restriction
  • Trade imbalance
  • Trade diversion

    • What can trading blocs do to restrict international trade with non-members?

  • Promote peace and resource use
  • Impose stringent rules and trade barriers (correct)
  • Improve economic stability
  • Encourage fair trade practices

    • What are the implications of trading blocs for both member and non-member countries?

  • No impact on economic activities
  • Significant implications for trade and economic activities (correct)
  • Only positive implications for member countries
  • Negative implications for non-member countries only

    • What is the term for the redirection of trade in favor of the member countries and against non-members within a trading bloc?

    <p>Trade diversion</p> Signup and view all the answers

    What are the positive effects of trading blocs on member nations?

    <p>Promotion of peace and resource use</p> Signup and view all the answers

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