Why would a country want to join a trade bloc such as ASEAN?A.To prevent companies from relocating to other countriesB.To more easily import and export goodsC.To better protect its citizens with trade barriersD.To reduce its dependence on foreign goods
Question
Why would a country want to join a trade bloc such as ASEAN?A.To prevent companies from relocating to other countriesB.To more easily import and export goodsC.To better protect its citizens with trade barriersD.To reduce its dependence on foreign goods
Solution
A country might want to join a trade bloc such as ASEAN for several reasons:
A. To prevent companies from relocating to other countries: By joining a trade bloc, a country can offer its companies more opportunities for trade and growth within the bloc. This can make it more attractive for companies to stay rather than relocating to other countries.
B. To more easily import and export goods: Trade blocs often establish free trade agreements, which reduce or eliminate tariffs and quotas between member countries. This can make it easier and cheaper for a country to import and export goods.
C. To better protect its citizens with trade barriers: While trade blocs often reduce barriers between member countries, they can also establish common external tariffs and other trade barriers against non-member countries. This can help protect a country's industries from foreign competition.
D. To reduce its dependence on foreign goods: By increasing trade within the bloc, a country can potentially reduce its dependence on goods from non-member countries. This can help it to become more self-sufficient and less vulnerable to fluctuations in foreign markets.
Similar Questions
hat is a major benefit for countries that join a trade bloc?A.They have less economic reliance on other countries.B.They are safe from economic competition with other countries.C.They have fewer barriers to trade than they do with other countries.D.They are given free access to natural resources owned by other countries.
What is the main reason that countries trade with one another?Multiple choice question.To increase domestic production of all goods a country can make.To ensure that political alliances stay strong.To exploit natural resources.To take advantage of specialization.
Why are countries motivated to trade with one another?A.Trade prevents any one country from establishing an absolute advantage over others.B.Trade helps them obtain goods they cannot produce as efficiently as other countries.C.Trade allows them to produce a variety of products instead of specializing in a few.D.Trade protects domestic businesses by shielding them from foreign competition.
A country that joins the WTO is required to increase its international trade with other member countriesGroup of answer choicesTrueFalse
Trade barriers can be beneficial to a country because they:A.prevent the country from becoming too reliant on foreign goods.B.increase the variety of consumer goods available in the country.C.lower the overall cost of producing goods within the country.D.make businesses in the country more efficient at producing goods.
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