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If a country joined an economic union (for example, the European Union) its business sector could benefit from all of the following except which one?
Suggested Answer: B
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33 comments · newest first
AN
An
12 months ago
I don't think reduced costs are guaranteed, though.
RI
Rima
12 months ago
Economies of scale are definitely a big plus!
AM
Amie
1 year ago
Wait, are we sure about the lower input costs? Sounds too good to be true.
GR
Gracia
1 year ago
Totally agree, bigger markets mean better profits!
HE
Hershel
1 year ago
A country joining an economic union usually sees lower transport costs.
YV
Yvonne
1 year ago
I feel like C is a strong option too, but I can't recall if there are exceptions to cheaper imports.
PE
Percy
1 year ago
This question reminds me of a practice question where we analyzed market access. B definitely sounds like a benefit.
DE
Dean
1 year ago
I'm not entirely sure, but I think D might not be a direct benefit since access to factors of production can vary.
EA
Earleen
1 year ago
I remember discussing how joining an economic union can lead to lower transport costs, so A seems like a benefit.
MA
Marla
1 year ago
This question seems straightforward - I just need to identify the 3 statements that describe the principles-based approach to corporate governance in the UK.
QU
Quentin
1 year ago
I've got this one! The answer is C. The Sprint length should remain the same, and the team can use this as a learning experience to improve their planning and forecasting for future Sprints.
JU
Jutta
1 year ago
I'm pretty sure the answer is C - BGP. That's the standard routing protocol used between Cisco ACI spines and external networks.
AL
Alex
1 year ago
Wait, is the correct answer 'None of the above'? I mean, who would turn down higher profits, cheaper imports, and more factors of production? That's the economic union jackpot!
ON
Oneida
1 year ago
C) Lower input costs as imports from other member states would become cheaper.
BU
Bulah
1 year ago
B) Economies of scale as it gained access to a larger market.
AL
Alexis
1 year ago
A) Higher profit margins due to a reduction in transport costs.
TA
Tashia
2 years ago
B) Economies of scale as it gained access to a larger market. Bigger is better when it comes to business, am I right or am I right?
BE
Beth
2 years ago
D) Reduced costs as a result of access to a wider supply of factors of production. More options, more opportunities to optimize, am I right?
CO
Coral
1 year ago
C) Lower input costs as imports from other member states would become cheaper.
LI
Lili
1 year ago
B) Economies of scale as it gained access to a larger market.
DE
Deandrea
1 year ago
A) Higher profit margins due to a reduction in transport costs.
VE
Verlene
1 year ago
C) Lower input costs as imports from other member states would become cheaper.
TA
Talia
1 year ago
B) Economies of scale as it gained access to a larger market.
QU
Quentin
1 year ago
A) Higher profit margins due to a reduction in transport costs.
SA
Salley
2 years ago
I'm going with C) Lower input costs as imports from other member states would become cheaper. Gotta take advantage of that sweet, sweet tariff-free trade!
RI
Rima
2 years ago
I believe they might not get higher profit margins due to a reduction in transport costs.
WI
Wilda
2 years ago
I agree, but which benefit do you think they would not get?
LA
Laquita
2 years ago
Hmm, this one's tricky. I think the answer is A) Higher profit margins due to a reduction in transport costs. Joining the EU should make trade within the bloc easier and cheaper.
VA
Vanna
1 year ago
I see your point, but I still think it's A) Higher profit margins due to a reduction in transport costs.
CE
Celia
1 year ago
Actually, I think it might be D) Reduced costs as a result of access to a wider supply of factors of production.
ST
Stephaine
1 year ago
I disagree, I believe the answer is C) Lower input costs as imports from other member states would become cheaper.
RE
Reena
1 year ago
I think the answer is B) Economies of scale as it gained access to a larger market.
RI
Rima
2 years ago
I think joining an economic union can really benefit a country's business sector.