Geographic proximity is an important reason for economic integration because consumer tastes are likely to be:

Related MCQs

• _______________ is an important reason for economic integration.
• Which of the following types of regional economic integration focuses only on eliminating internal tariffs?
• In which of the following types of regional economic integration are internal tariffs eliminated with member countries levying a common external tariff on goods being
• A _______________ focuses on eliminating internal tariffs with member countries levying a common external tariff on goods being imported from nonmembers. Additionally, this type of regional economic integration allows free mobility of production factors such as labor and capital.
• Which of the following is true: A. Development of sufficient and quality infrastructure helps in economic development by facilitating production and investment in any economy. B. shortage of these facilities in underdeveloped countries is the main cause of less economic development
• _______________ occurs when production shifts to more efficient producers for reasons of comparative advantage, allowing consumers access to more goods at a lower price than would have been possible without integration.
• Capital formation in underdeveloped countries is a major bottleneck. The reason can be
• The main reason behind MNCs investments are
• Which of the following explains the term economic growth?
• Which of the following explains the term economic development?