Why do nations seek to join or form economic blocs

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1. Name 2 of the world’s leading economic blocs? Explain their key features.

2. Why do nations seek to join or form economic blocs? What are the advantages of such arrangements?

3. What is the difference between a free trade area and a customs union? Between a customs union and a common market?

4. What is the role of FDI, licensing, and joint ventures in reducing the impact of import tariffs?

5. Name 4 main motives for government intervention.

Reference no: EM132308189

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