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Flashcards in Single Market Deck (30)
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1
Q

Example of Red Bull

A

Red bull original recipe was banned in France for 12 years after French authorities argued that taurine was harmful.

2
Q

What is geo blocking?

A

European citizens normally face barriers when they use online services and tools

3
Q

Online market in the EU

A

online market remains largely domestic with only 15% of citizen shop online from another EU country

4
Q

Advantage of the Single Market

• Removing trade barrier

A

abolishing trade barrier and physical customs controls because access to the single market requires acceptance of all four freedoms

5
Q

Positive impact of abolished trade barrier

A

increased opportunities in employment and educational opportunities across the continent, couple with greatly enhanced tourism, due to the free movement of people

6
Q

What is the UK’s trading record with the EU?

A

at least 44% of Britain’s exports go to the EU

7
Q

What is the effect of a common regulatory framework?

A

A common regulatory framework serves to prevent company from gaining a competitive advantage by working to looser regulations.

8
Q

What is the common regulatory designed for?

A

reduce trade costs and open up more markets

9
Q

Effects of the Single Market

• Increased competition

A

Increased competition due to the free market in goods, which has reduced costs but also led to loss of jobs, often in regions that already suffer high unemployment

10
Q

Effects of the Single Market

• Increased opportunities

A

Increased opportunities in employment and educational opportunities across the continent, couple with greatly enhanced tourism, due to the free movement of people

11
Q

Effects of the Single Market

• Increase in migration

A

A substantial increase in migration from poorer EU countries to wealthier ones, for example, from Eastern Europe to the UK following EU expansion in 2005

12
Q

Effects of the Single Market

• Vulnerable to economic crisis

A

The single market, and in particular the Euro, could be seen as making the EU more vulnerable to the Global Economic crisis by binding it more closer together, leading to a ‘domino effect’ if one economy fails

13
Q

Effects of the free movement of people

A

The free movement of people has greatly enhanced tourism and opened new employment and educational opportunities across the continent

14
Q

Success of the Single Market

• Standardise protducts

A

The free market has standardise products and regulation making it easier for consumers to be protected and to access wider range of products

15
Q

Success of the Single Market

• More accessible

A

The free movement of financial services has made those services more accessible to a greater proportion of the population and cheaper

16
Q

Failures of the Single Market

• Migration

A

It has led to substantial migration from poorer EU countries to wealthier ones, leading to tensions

17
Q

Failures of the Single Market

• Loss of jobs

A

By emphasising competition it has led to the loss of jobs from those who could not adapt quickly enough, often in regions that already suffer high unemployment

18
Q

Failures of the Single Market

• National identity

A

Standardisation has been at expense of national identity and sovereignty, for example the compulsory use of the metric system

19
Q

Failures of the Single Market

• Out of date

A

Regulation has not kept pace with developments leading to an ‘excess of capitalism’

20
Q

What are financial passports?

A

These allow any company operating within the single market to trade across the EU without the need for separate licences.

21
Q

What is the custom union?

A

all the countries involved have agreed to apply the same tariffs on goods coming from elsewhere in the world.

22
Q

Example of being in the custom union

A

Goods can be shipped around the union without further tariffs being imposed.

23
Q

Disadvantage of free movement of people

A

The UK pays more than £670m to EU countries for Britons’ healthcare abroad, while claiming less than £50m from the EU

24
Q

Advantage of the single market

• talent

A

The single market has the advantage to fill jobs vacancies in many EU countries and gives employers a wider talent pool

25
Q

Advantage of the single market

• University-educated migrant

A

Britain attracts the highest number of university-educated migrants of any country in the EU to work in the financial, technology and media industry.

26
Q

Disadvantage of the single market

• Double standards

A

The EU has about 800 categories of regulated professions but only 7 have automatic recognition across the EU, such as doctors, meaning services are suffering from a double standards

27
Q

Advantage of the single market

• Aviation

A

The single market allows any EU airline to operate from and between any countries of the EU

28
Q

Impact of the single market on airfares

A

the Single market brought about the emergency of many airlines, which increased competition, pushing fares down.

29
Q

How much have air fare fallen due to the single market

A

Airfares have fallen by about 40%

30
Q

Fact of service sector export

A

Two-fifths of service sector exports go to the UK, whereas the Bric countries only account for less than 5% together.