What's it: The Eurozone is an area of the European Union (EU) that adopts the Euro as its official currency. Of the 28 EU members, nineteen of
Trade Blocs
Common Market: Examples, Characteristics, Pros, Cons
What's it: Common market is economic integration in which each member countries apply uniform external tariffs and eliminate trade barriers for
Trade Blocs: Meaning, Types, Pros, and Cons
What's it: A trade bloc is a group of countries joined together through a trade agreement. Typically, this involves countries in a particular region,
Free Trade Area: Meaning, Examples, Advantages, and Disadvantages
What's it: A free trade area is a regional economic integration in which members remove barriers to trade in goods between them. However, each
Economic Union: Meaning, Features, Goals, Examples, Pros, and Cons
What's it: An economic union is a form of regional economic integration in which goods, services, and factors flow freely between member
Customs Union: Meaning, Features, Advantages, And Disadvantages
What's it: A customs union is an agreement between two or more neighboring countries to remove barriers to trade between them and to set uniform