Knowee
Questions
Features
Study Tools

Free movement of goods, services and  money in the EU is achieved thanks to...*1 pointthe single market and customs unionEECEurozonepolitical union

Question

Free movement of goods, services and money in the EU is achieved thanks to...

  • 1 point
    • the single market and customs union
    • EECE
    • Eurozone
    • political union
🧐 Not the exact question you are looking for?Go ask a question

Solution

The free movement of goods, services, and money in the EU is achieved thanks to the single market and customs union.

Here's a step-by-step explanation:

  1. Single Market: The single market refers to the EU as one territory without any internal borders or other regulatory obstacles to the free movement of goods and services. This means that goods, services, money, and even people can move freely within the EU, just like they would within a single country.

  2. Customs Union: The customs union is a trade agreement under which two or more countries do not impose customs duties on each other's goods. In the case of the EU, this means that goods can move freely between member states without any customs duties. This also means that all member states apply the same tariffs on goods imported from outside the EU.

The EEC, Eurozone, and political union also play roles in the functioning of the EU, but the free movement of goods, services, and money is primarily achieved through the single market and customs union.

This problem has been solved

Similar Questions

Elaborate the concepts of Trade Creation and Trade Diversion in the contextof Custom Union

Having one currency in EU's countries, makes it ……………………. to do business, to travel and shop all over the EU. harder ​​​​​easier impossible

A(n) union is a form of regional integration that includes free trade among member countries and common trade barriers with the rest of the world.

The single market creates ………………………………. . tariff barriers trade restrictions free trade

The Freedom of …………………………... allows the people to transfer or invest their money to other member states. transportation capital movement shipping

1/1

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.