Economics Year 13 revision Day 28 - Economic Integration
On day 28 of the Year 13 Recap we review the concept of economic integration and discuss the different levels in which economic integration can come in.
Economic integration describes how countries take active steps to increase the amount of trade between themselves and the rest of the world. There are lots of competing terms that you need to be comfortable with such as a customs union, free trade agreement and single market.
However, you also need to understand how economic integration can, in some instance, enhance trading opportunities, but also be able to show how increased integration can also discourage trade.
Here Jack discusses the revision slide on economic integration: