What Was Established in 1958 with Six Member Nations with the Goal

question 1

Multiple Choice

What was established in 1958 with six member nations with the goal of eliminating trade barriers?

• A)the European Economic Community
• B)the Maastricht Treaty
• C)Euratom
• D)Western Union
• E)the Schengen Convention

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Definitions:

Long Run

In economics, a period in which all factors of production and costs are variable, and firms can enter or exit the market.

Resources Fixed

A situation in an economic model where the availability of resources is constant and unchanging over time.

Output Variable

A variable that represents the result or outcome of a process or model.

Production Capacity

The maximum output that a company or economy can produce under normal conditions within a given period, often influenced by available resources and technology.