Despite having a customs union, countries in the EU implemented a series of quality, health and safety regulations that could affect imported goods from EU members in the 1980s.What would be the impact of creating those frictional barriers on producers, consumers and the EU? What would be the impact of those frictional barriers on the overall trade between members of the EU and between the EU and the rest of the world?What was the solution implemented to prevent these frictional barriers?

Answered: Despite having a customs union,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Despite having a customs union, countries in the EU implemented a series of quality, health and safety regulations that could affect imported goods from EU members in the 1980s.

What would be the impact of creating those frictional barriers on producers, consumers and the EU?
What would be the impact of those frictional barriers on the overall trade between members of the EU and between the EU and the rest of the world?
What was the solution implemented to prevent these frictional barriers?

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European union implemented a series of quality, health and safety regulation that could affected imported goods from the EU members in the 1980's

EU law sets essential requirements to ensure products traded in the EU meet high health, safety, and environmental standards. Requirements can cover: the product itself: for example flammability, electrical properties or hygiene. the product's manufacturing process.

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