One of the First Factors That Gave the European Union

question 12

Multiple Choice

One of the first factors that gave the European Union an edge over others in the process of becoming a common market was:

• A) a similarity in agriculture and monetary policy.
• B) a similarity in political systems.
• C) a similarity in languages.
• D) a well-developed transportation network.
• E) a common currency.

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Definitions:

Postponement

A strategy in logistics and supply chain management that delays product customization until customer orders are received, to reduce inventory and improve responsiveness.

Overall Profits

The total financial gains made by a company after all expenses and costs have been subtracted from total revenues.

Single Product

Refers to a business or production strategy focusing on the manufacture or sale of only one type of product.

Majority of Demand

Typically refers to the largest portion of demand for a product or service, usually indicating the most common or frequent customer request or need.