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You Run a Small Company That Manufactures Plastic Injection Molded

Question 121

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You run a small company that manufactures plastic injection molded pieces for the construction industry.Currently,you manufacture your product in Windsor,Ontario and a small plant in Texas.You sell your products in both Canada and the United States.You are aware that NAFTA presented your company with increased access to the American market.You want to expand,and are aware of something called the "European Union," but are unsure of what it means,whether Canada can join (or has joined)and what your firm can do to get access to this large market.You are also interested to know whether there are other "groups of countries like NAFTA or the EU" out there.
Briefly explain the following forms of economic integration: free trade area,customs union,common market,economic union,and full political union.Provide an example of each form of economic integration.

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Free Trade Area: In a free trade area,al...

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