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
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:
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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.
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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.
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