Get premium membership and access questions with answers, video lessons as well as revision papers.
(i) Economic union
This is a common market however the agreement includes member countries work on joint economic institutions such as a central bank, common currency or even common public services such as railways and communication network.
(ii) Common market.
This is Free Trade and Customs Union but by extension, member states allow for free movement of factors of production such as labour, capital and entrepreneurship. It includes the Central American Customs Common Market (CAM).
(iii) Customs union.
Member countries abolish trade restrictions among themselves but at the same time impose a common tariff on trade with non-member countries such as the East African Customs Union (EACU).
(iv) Free Trade are.
Member countries abolish or relax all trade barriers among themselves but each individual country remains free to impose restrictions on trade with non-member countries for example, The Preferential Trade Area (PTA).
maurice.mutuku answered the question on July 6, 2017 at 08:32
- Why would a manufacturer sell directly to consumers?(Solved)
Give reasons why a manufacturer may sell directly to consumers.
Date posted: July 6, 2017. Answers (1)
- What benefits may Kenya achieve by adopting 2030 Millennium Development Goals(MDGs)?(Solved)
Explain the benefits that Kenya may achieve by adopting 2030 Millennium Development Goals(MDGs).
Date posted: July 6, 2017. Answers (1)
- What benefits would accrue to a country as a result of delocalization?(Solved)
Give the benefits that would accrue to a country as a result of delocalization.
Date posted: July 6, 2017. Answers (1)
- What problems may a country encounter when measuring national income using the output approach?(Solved)
Discuss the problems that a country may encounter when measuring national income using the output approach.
Date posted: July 6, 2017. Answers (1)
- What are the types of unemployment?(Solved)
Give the types of unemployment.
Date posted: July 6, 2017. Answers (1)
- What factors may the Mombasa county government consider before spending county Funds? (Solved)
Explain factors that the Mombasa county government may consider before spending county Funds.
Date posted: July 6, 2017. Answers (1)
- What are the differences between a private limited company and partnership forms of Business units?(Solved)
Describe the differences between a private limited company and a partnership forms of Business units.
Date posted: July 6, 2017. Answers (1)
- What are the benefits of direct production?(Solved)
Explain the benefits of direct production.
Date posted: July 6, 2017. Answers (1)
- Why does the Kenyan government impose tax?(Solved)
List reasons why the Kenyan government imposes tax.
Date posted: July 5, 2017. Answers (1)
- What are the merits of current account to the account holder?(Solved)
Give the merits of current account to the account holder.
Date posted: July 5, 2017. Answers (1)
- What is a current asset?(Solved)
Define current asset.
Date posted: July 5, 2017. Answers (1)
- A resource is something that is used by a business to achieve an objective.
What are the resources available in a business?(Solved)
Highlight resources that are available in a business.
Date posted: July 5, 2017. Answers (1)
- What is a long term liability?(Solved)
Define "long term liability" and give an example.
Date posted: July 5, 2017. Answers (1)
- Why do many governments discourage localization of firms?(Solved)
Give reasons why many governments discourage localization of firms.
Date posted: July 5, 2017. Answers (1)
- What is personal selling?(Solved)
Define personal selling.
Date posted: July 5, 2017. Answers (1)
- What is Publicity?(Solved)
Define publicity.
Date posted: July 5, 2017. Answers (1)
- What is advertising?(Solved)
Define advertising.
Date posted: July 5, 2017. Answers (1)
- What are the advantages of pipeline transport over the road transport?(Solved)
Give the advantages of pipeline transport over the road transport.
Date posted: July 5, 2017. Answers (1)
- Public finance refers to activities carried out by the government in raising and spending of finances.
What are the purposes of public finance?(Solved)
Give the purposes of public finance.
Date posted: July 5, 2017. Answers (1)
- What is public relations?(Solved)
Define public relations.
Date posted: July 5, 2017. Answers (1)