what is the difference between european union and european economic area?
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The European Economic Area ( EEA ) The EEA includes EU countries and also Iceland, Liechtenstein and Norway. It allows them to be part of the EU 's single market. Switzerland is not an EU or EEA member but is part of the single market.
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There are several important differences between Asean and the EU. The first difference is that Asean is an inter-governmental organisation. The EU, in contrast, is a supranational organisation in which its member states have agreed, in certain areas, such as trade, to pool their sovereignties.
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The seven institutions of the European Union (EU) are seated in four different cities, which are Brussels, Frankfurt, Luxembourg City and Strasbourg, rather than being concentrated in a single capital city. The EU agencies and other bodies are located all across the union, but usually not fixed in the treaties.
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promote scientific and technological progress. enhance economic, social and territorial cohesion and solidarity among EU countries. respect its rich cultural and linguistic diversity. establish an economic and monetary union whose currency is the euro.
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No, those are different. Euro is the currency of the countries which are members of the European Union (EU). Broadly speaking, the European countries or the Europe. Pound (Sterling Pound) is the currency of the UK (the United Kingdom)/Britain/England.
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Economy is the set of production, consumption, supply, demand and like-wise functions put together of a region/country. ... Gross Domestic Product(GDP) is the sum of final goods and services produced within the country. Simply put, what we produce adds to GDP(there are many conditions, though).
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In effect, THE ANSWER IS that the European Union is half the size of the USA with twice as many people! However, continental Europe is 1.04 times as big as the USA; or in reverse, the USA is 0.97 times as big as continental Europe.
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You are a European Economic Area (EEA) national if you are a citizen of one of the following countries. ... Iceland, Liechtenstein and Norway are EEA member states, but they are not members of the European Union (EU). Nationals of EEA countries have the same freedom of movement rights as the majority of EU citizens.
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An OECD study reckons that in the recent crisis labour mobility in the European Union (not the euro area) was higher than in the United States. This doesn't make the European Union an optimal currency area, though. It is completely immaterial to the functioning of a currency area how high labour mobility is.
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Europe is a continent divided into around 50 countries. 28 of those countries are members of an economic/political organisation called the European Union. The EU is primarily a free-trade area, working as one single market, where goods,services, people and capital can flow freely between the member countries.
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Its objective is to create a homogenous European Economic Area. As such, all relevant EU legislation in the field of the Single Market is integrated into the EEA Agreement so that it applies throughout the whole of the EEA, ensuring uniform application of laws relating to the Single Market.
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The European Union (EU) is a political and economic partnership that represents a unique form of cooperation among sovereign countries. ... EU member states share a customs union; a single market in which capital, goods, services, and people move freely; a common trade policy; and a common agricultural policy.
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Basically, economics is the study of an economy, i.e. its structure, condition, working, performance, issues, remedies, etc. ... On the other hand, an economy indicates a region, a particular area or country, concerning production, distribution, consumption, and exchange of goods and services, and supply of money.
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They are two completely different organisations. The EU is fundamentally an economic and trade union between 28 European countries. NATO on the other hand is a military alliance, between countries around the North Atlantic, having members in North America and Europe.
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The European Community (EC) was an economic association formed by six European member countries in 1957, consisting of three communities that eventually were replaced by the European Union (EU) in 1993. The European Community dealt with policies and governing, in a communal fashion, across all member states.
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The European Commission (EC) is the executive branch of the European Union, responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.
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The EU is not only a single market - it is also a customs union. ... The countries club together and agree to apply the same tariffs to goods from outside the union. Once goods have cleared customs in one country, they can be shipped to others in the union without further tariffs being imposed.