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Created by: faatimah Created on: 02-04-14 19:59
Across
1. trade involving exchange of goods and services produced by different industries (5, 8, 4) 8. deepens integration in a single market, centralising economic policy at the macroeconomic level (8, 5) 10. the difference between a firm's revenue and costs expressed as a percentage of revenue (6, 6)
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2. the deepest form of integration in which countries share the same currency and have a common monetary policy as a result (8, 5) 3. an agreement between two or more countries to abolish tariffs on trade between them and to place a common external tariff on trade with non-members (7, 5) 4. an agreement between two or more countries to abolish tariffs on trade between them (4, 5, 4) 5. markets where people and businesses can buy and sell contracts to buy commodities or currencies at a fixed price at a fixed date in the future (7, 7) 6. countries with high income per capita and diversified industrial and tertiary sectors of the economy (USA, UK, Japan) (9, 9) 7. where economic integration results in high-cost domestic production being replaced by imports form a more efficient source within the economically integrated area (5, 8) 9. where economic integration results in trade switching from a low-cost supplier outside the economically integrated area to a less efficient source within the area (5, 9)
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