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Summary: Foster On Eu Law | 9780199670796 | Nigel Foster
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Read the summary and the most important questions on Foster on EU Law | 9780199670796 | Nigel Foster
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1 Introduction
This is a preview. There are 11 more flashcards available for chapter 1
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What is trade liberalization?
Charge less and less custom and duties to stimulate in a way global. -
What are the benefit of free trade?
a.Comparative advantage b.Competitiveness c.Investment and return on investment d.economies of scale e.Consumer welfare f.efficient use of resource g.employment h.foreign exchange gain -
The effect of internal market is visible in which circumstance?Why?
In big market.It has high purconsumer chasing power. -
What is Ricardo's theory?
Specialization results in higher overall productivity. -
What is the problem with Ricardo's model?
Specialization may mean loss of job and vulnerability. -
What are the down side of free trade?
a.Loss of income for the state. b.structural short term unemployment c.trade deficit and higher foreign debt. d.Marginalization of non-cost efficient products. e.vulnerability due to interconnectedness of market f.dumping g.difficult environment for start-ups h.bad working condition, environment effect. -
List the level of economic integration.
1.Free trade area. 2.Custom Union 3.Internal Market 4.economic union 5.monetary union. 6.political union 7.full union -
What does political union have?
Free trade, common commercial policy, four freedoms, monetary and fiscal policy and common state authority. -
What is the primary law about internal market?
Article 3(3) TEU and Article 4,18,26 TFEU -
What is a market?
Pelkmans: in economics, a market is an abstract notion of demand and supply coming together and determining price and non-price aspects of transaction.
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