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8 Cards in this Set
- Front
- Back
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regional integration |
implementation of a multitude of economic and or political steps by member states to increase their global competitiveness including preferential trade access |
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stages of regional integration |
free trade area customs union common market economic union |
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free trade area |
elimination of all trade barriers while keeping their own external barriers against nonmembers |
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customs union |
free trade area members who adopted a common external tariff with nonmembers |
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common market |
custom union members who remove barriers to allow the movement of capital and labor creating a common (single) market |
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economic union |
common market members who agree to implement common social programs and coordinated macroeconomic policies |
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ASEAN objectives |
to accelerate economic growth, social progress, and cultural development in the region to promote peace and stability through the rule of law in relationships among countries in the region |
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economic geography |
the study of principles that govern the efficient spatial allocation of economic resources and the resulting consequences |
