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Unit 7 Short Questions
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Year
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Question
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Topic
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2013
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9
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Directives and regulations
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2012
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9
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Trading Bloc
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2011
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5
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Visible and invisible trade
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2010
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4
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Institutions
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2009
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10
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Institutions
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2008
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|
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2007
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3
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Directives
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6
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Trading Bloc
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2006
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10
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Visible and invisible trade
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2005
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|
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2004
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8
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Institutions
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2003
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2002
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7
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letters
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2001
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7
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SEM
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2013
Q9
EU
Directive
- A Law
that all EU members must implement
When a
directive is passed by the council of ministers then all EU countries must
accept it and obey the principles of the directive
- Must be
achieved by a given date
All
countries are given a date that they must implement and change their countries
law to include the new Directive by.
EU
Regulation
- A Law
that all EU members must obey
When a
regulation is passed by the council of ministers it becomes directly applicable
- Most
direct type of law
It comes
into force immediately and must be obeyed by all as soon as it is passed
2012 Q9
·
A group of countries who agree to form a free trade area
They remove trade barriers for goods
and services traded among themselves.
·
Trading Barriers illuminated would include
Tariffs, quotas, embargos, and subsidies
do not exist in a trading bloc.
Examples:
• The European Union (EU)
•
The North American Free Trade Agreement (NAFTA).
2011 Q5
a.
Invisible: services
Imports:
money leaves the country, services purchased by Irish customers/residents.
e.g. financial services provided by
foreign firms/ Irish residents holidaying abroad.
(b)
Balance of Trade = Visible Exports -
Visible Imports
= €50bn - €30bn
= €20bn surplus
Balance of Invisible Trade = Invisible
exports – Invisible Imports
= €35bn - €40bn
= (€5bn) deficit
Balance of Payments = Balance of Trade
+ Balance of Invisible Trade
= €20bn + (€5bn)
=
€15bn surplus
2010 Q4
1 2
3 4 5
F
A D C B
2009 Q10
a. The most
important decision making body in the EU. Made up of relevant ministers from
each EU country (changes according to topic). Each minister represents
interests of their own country
- Final
Say in EU laws and budget
The council
pass EU laws. Once the Parliament agree (co-decision) then the council will
discuss the law and vote to pass or reject. This is the final decision on the
law. They also have the power to reject the EU budget
- Conclude
international agreements
The council
officially signs agreements on behalf of the EU. These agreements often cover
areas such as fisheries, science, technology and transport.
- To
co-ordinate member states working together
They allow
member states work together in the areas of foreign policy, security and
defence
b.
1. European Parliament
2. European
Commission
2007Q3
EU Directive
- A Law
that all EU members must implement
When a
directive is passed by the council of ministers then all EU countries must
accept it and obey the principles of the directive
- Must be
achieved by a given date
All
countries are given a date that they must implement and change their countries
law to include the new Directive by.
Example
The WEEE
(Waste Electrical and Electronic Equipment) Directive states that Irish
retailers must allow customers to leave back their old WEEE for free when they
buy new equipment from the shop.
2007 Q6
·
A group of countries who agree to form a free trade area
They remove trade barriers for goods
and services traded among themselves.
·
Trading Barriers illuminated would include
Tariffs, quotas, embargos, and subsidies
do not exist in a trading bloc.
Examples:
1.
The European Union (EU)
2.
The North American Free Trade Agreement (NAFTA).
2006 Q10
(a)
Invisible: relates to the sale of services by a country
Exports: Money comes into the country
Example of Invisible Export for Ireland
would a foreign person holidaying in Ireland
(b)
(i) Balance of Trade:
Visible Exports – Visible Imports= 8-7
= €1 billion
Note:
VE: 19-11= 8
VI: 16-9= 7
(ii)
Balance of Payments:
Total
Exports – Total Imports = 19-16 = €3 billion
2004Q8
1. The European Parliament - Elected by the citizens
of the EU to represents their interests in decision making. There are over 700
members in Parliament, known as MEPs. Each member represents interests of the
EU
2. The Council of Ministers - The most important
decision making body in the EU. Made up of relevant ministers from each EU
country (changes according to topic). Each minister represents interests of
their own country
3. The European Commission - Made up of commissioners
who are given different responsibilities. Each commissioner represents
interests of the EU
4. The Court of Justice - They apply laws to all
EU countries.
Each judge represents interests of the
EU
2002 Q7
CAP: Common Agricultural Policy
PLC: Public Limited Company
EU : European Union
ROI : Return 0n Investment
PRO:
Public Relations Officer.
