What Are the Key Elements of the EU Single Market

question 10

Multiple Choice

What are the key elements of the EU Single Market?

• A) European harmonization
• B) deregulation
• C) the four freedoms; goods, services, people and capital
• D) all of these

Explain the effects of quotas on market inefficiencies and missed opportunities for consumers and producers.

Recognize different forms of quantity controls and their purposes in various markets.

Understand the concept of demand price and supply price in the context of quota limits.

Analyze the impact of quotas on substitute goods and their market prices.