4.1.5

• what are trading blocs?


  a group of countries that work togeather to promote free trade with one and other
• what is ASEAN?


  association of south east asian nations
• what is NAFTA?


  north american free trade agreement
• advantages of trading blocs

  expand into new markets

  freedom of movement

  easier to source labour
• disadvantages of trading blocs

  monopolies

  unemployment

  costs associated