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From course:

Economics A Level (DONEEEEEEE)

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Question:

What are the Positive Impacts of Economic Integration?

Author: eric_galvao



Answer:

-Trade Creation can occur within a Trading Bloc. Tariffs are Stripped and Consumers can have more choice -More Trade leads to Greater Efficiency, due to more Competition, Specialization, and Economies of Scale. -Even Non Members may benefit, as those Improvements within the Bloc will cause the Price of their Exports to fall. -Removing Tariffs will increase Consumer Surplus


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