ADM 3318 Study Guide - Final Guide: European Free Trade Association, Trade Association, Single Market

• School: University of Ottawa
• Department: Administration
• Course: ADM 3318
• Professor: Ado Abdoulkadre

Document Summary

Economic integraion: atempts at regional economic integraion are moivated by a desire to exploit the gains from free trade and investment while avoiding the diiculies inherent in larger agreements. Regional economic integraion: regional economic integraion: agreements among geographic region to reduce and ulimately remove tarif and nontarif barriers to the free low of goods, services, and factors of producion between each other. Agreements designed to promote free trade within regions are believed to produce gains from trade for all member countries. Bilateral integraion-two countries cooperate closely, usually in the form of tarif reducions. Regional integraion-a group of countries located in the same geographic proximity decide to cooperate, i. e. the european union. Global integraion-countries worldwide cooperate through the wto. Trade creaion: trade created due to regional economic integraion; occurs when high- cost domesic producers are replaced by low-cost foreign producers in the free trade area.