Commerce

hey guys! so i noticed that there are absolutely zero notes on commerce for the GCSEs...well in case someone needed any i decided to make my own ( this is on the first unit i did in my scl for year 10)...hope this was helpful! :)

Trade Blocs

• A trading bloc is a group of countries that grouped together to promote trade within a region.
• the features of trading blocs include ELIMINATION OF DUTIES BETWEEN MEMBERS, COMMON EXTERNAL TARIFF, RELAXATION OF TRADE REGULATIONS, SINGLE CURRENCY.
• However you must remember that not every trade bloc has all of these features.
• There are different types of trade blocs:
  • FREE TRADE AREAS
    • These are created when two…