GEOG 1310 FINAL EXAM
1. Regional Blocs (Trade Bloc)
Answer Intergovernmental agreement where trade barriers are reduced (taritts)
2. Five Stages of Regional Economic Integration
Answer 1. Trade Preference Association
2. Free Trade Area
3. Customs Union
4. Common Market
5. Economic and Monetary Union
3. Trade Preference Association
Answer Lower taritts on imports among member countries (ASEAN)
4. Free Trade Area
1/
19
, Answer No taritts on imports among member countries (NAFTA)
5. Customs Union
Answer Free trade among members and common trade policies toward non-members (ECOWAS)
6. Common Market
Answer Free trade and common external taritts, free flows of labor, and investment among
members (MERCOSUR)
7. Economic and Monetary Union
Answer Free trade, common external taritts, free flows of people and capital, and single currency and
common monetary policies among member countries (EU)
8. 4 Freedoms
Answer Free movement of goods, services, labor, and capital investments
9. Formation of EU
2/
19
, Answer Formed in 1950 as a free trade area of six continental countries, also called "zone of peace,
stability, and prosperity"
10. New EU Members in Eastern Europe
Answer Poland, Latvia, Lithuania, Hungary, Slovakia, Slovenia, Czech,
Croatia, Bulgaria, Estonia, Romania
(PLL Have Some Soggy Cheese and Crackers Below Everyones Room)
11. Euro Zone
Answer 19 of EU-27 use the Euro as common currency
12. Schenegen Area
Answer Border-free zone of 26 European countries, eliminate internal border control while
tightening external border control
13. Which Eastern European members are not part of the Euro Zone or Schen-
3/
19
1. Regional Blocs (Trade Bloc)
Answer Intergovernmental agreement where trade barriers are reduced (taritts)
2. Five Stages of Regional Economic Integration
Answer 1. Trade Preference Association
2. Free Trade Area
3. Customs Union
4. Common Market
5. Economic and Monetary Union
3. Trade Preference Association
Answer Lower taritts on imports among member countries (ASEAN)
4. Free Trade Area
1/
19
, Answer No taritts on imports among member countries (NAFTA)
5. Customs Union
Answer Free trade among members and common trade policies toward non-members (ECOWAS)
6. Common Market
Answer Free trade and common external taritts, free flows of labor, and investment among
members (MERCOSUR)
7. Economic and Monetary Union
Answer Free trade, common external taritts, free flows of people and capital, and single currency and
common monetary policies among member countries (EU)
8. 4 Freedoms
Answer Free movement of goods, services, labor, and capital investments
9. Formation of EU
2/
19
, Answer Formed in 1950 as a free trade area of six continental countries, also called "zone of peace,
stability, and prosperity"
10. New EU Members in Eastern Europe
Answer Poland, Latvia, Lithuania, Hungary, Slovakia, Slovenia, Czech,
Croatia, Bulgaria, Estonia, Romania
(PLL Have Some Soggy Cheese and Crackers Below Everyones Room)
11. Euro Zone
Answer 19 of EU-27 use the Euro as common currency
12. Schenegen Area
Answer Border-free zone of 26 European countries, eliminate internal border control while
tightening external border control
13. Which Eastern European members are not part of the Euro Zone or Schen-
3/
19
