European Union

• What is one impact of being part of the European Single Market?

  Ease of trade between EU countries
• How does being part of the European Single Market affect competition?

  It increases choice for consumers and competition
• What location decision might businesses make due to the EU membership?

  To operate within the EU
• What type of workforce does EU membership provide access to?

  Larger pool of skilled and unskilled workers
• What is a consequence of increased competition for jobs in the EU?

  More mixed society leading to wider product choices
• What does the free movement of goods allow within the EU?

  Goods can be freely traded without barriers
• What is one benefit of the free movement of people in the EU?

  People can seek employment across countries
• What is a requirement for countries within the EU single market?

  Compliance with common laws
• What can the European Court do regarding UK court decisions?

  Overrule decisions made in UK courts
• What is the definition of a single market?

  Countries trade as if one country
• What is one advantage of the single market for businesses?

  Increased demand from a larger marketplace
• How do economies of scale benefit businesses in the single market?

  Lower average costs of output
• What is one benefit of sourcing raw materials from EU countries?

  Lower costs in sourcing supplies
• How does the single market affect capital markets for businesses?

  Frees capital markets for better finance access
• What does the single market provide for employers?

  Access to labour markets from all member states
• How could growing wealth in poorer parts of the single market affect demand?

  It could drive future demand for products
• What is one advantage of the single market for consumers?

  Increased consumer choice from all manufacturers
• How would a single currency like the Euro affect customers on holiday?

  Easier to compare prices abroad
• What is a potential downside of adopting the Euro for customers?

  They might get confused with the change
• How would businesses benefit from a single currency?

  They wouldn't worry about exchange rate changes
• What is one challenge businesses might face with a single currency?

  Costly to change tills and menus
• What is one argument for remaining in the EU regarding trade?

  Britain avoids exporter tariffs and red tape
• What is the estimated yearly benefit of EU membership per household?

  £3,000 yearly benefit
• How does EU regulation benefit businesses?

  Reduces red tape by standardizing regulations
• What is one argument against Brexit regarding trade deals?

  Britain can secure trade deals without EU law
• What is one financial argument against EU membership?

  Britain spends £350m weekly to Brussels
• What control does leaving the EU give Britain over employment law?

  Returns control over employment law and safety
• What is one argument for Brexit regarding immigration?

  Britain can change the open-door immigration system
• How does Britain’s influence change if it leaves the EU?

  It can retake seats on international institutions
• What is one benefit of cooperation at international summits for Britain?

  Helps fight issues like Ebola and Piracy