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Membership of the EU.
Single market-The economies of different countries can be treated as one when a firm
is considering its domestic market.

Customs reunion-A group of countries, such as the EU, have free trade between
members, but a common external barrier.

Single currency-A group of countries agree to adopt…

Page 2

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Members of the Eurozone.

1. Ireland
2. Portugal
3. Spain
4. France
5. Luxembourg
6. Belgium
7. Netherlands
8. Germany
9. Austria
10. Italy
11. Malta
12. Greece
13. Cyprus
14. Finland

Advantages of the single market.

1. No protectionist measures on trade between member states.
2. Elimination of border…

Page 3

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Disadvantages of the single market.

1. Job losses-UK based industries now have to compete with products from
abroad. For example in the UK, dairy farmers have has to compete with cheaper
milk from Romania.
2. Attract capital and jobs away-This is due to the single market. Capital and
jobs are…

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