Business, 30.03.2021 15:50 willveloz4

Regional economic integration is an agreement among countries in a geographic area to reduce tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other. There are costs and benefits associated with regional economic integration. According to economists, the amount of benefits versus costs can be measured by whether the integration leads to trade creation versus trade diversion. Match the followings.

a. Trade creation
b. trade diversion

1. Solar panels
2. Computer Chips
3. Cocoa
4. Sugar
5. Textiles

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Regional economic integration is an agreement among countries in a geographic area to reduce tariff...

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