Economic Integration
Process of countries becoming economically linked through: trade agreements, shared markets, monetary union.
Real World
When the UK was part of the EU single market, UK firms like Jaguar Land Rover could sell vehicles across 27 countries without tariffs or customs checks, reducing costs and boosting competitiveness.
Exam Focus
For 'evaluate' questions, weigh benefits (reduced trade barriers) against drawbacks (loss of sovereignty/policy flexibility) using specific examples.
How well did you know this?