Regional Integration

Cards (13)

Bilateral Agreement 
A treaty strictly between (2) state entities.
Multilateral Agreement 
A trade agreement formed between (3) or more countries.
Common Market 
A group of countries imposing few or no duties on trade with one another & a common tariff on trade with other countries.
Single Market 
An association of countries trading with each other without restrictions or tariffs.
Independent State 
Refers to a people politically organized into a sovereign state with a definite territory recognized as independent.
Underdeveloped Countries 
A country not developed to its potential.
Developing Country 
A country moving from a state of low-level material well-being & standard of living.
Developed Country 
A country with a high level of economic development & standard of living.
Trade Liberalization 
Trade policies that allow for trade across national boundaries without government interference.
Globalization 
a term used to describe how trade and technology have made the world more connected and interdependent.
Multinational Corporation 
An enterprise that manages production / delivers services in more than (1) country.
Regionalism 
The political ideology focusing on the interests of a particular region.
Trading Bloc
Several countries' institutions share economic & political aims, achieved through shared trading practices.