Why is the UK in the European Union?
Why is the UK in the European Union? Learning objec-ve: To explain and evaluate the advantages of the single market
Signing of the Rome Trea9es
Homework – due Monday • Complete the worksheet
Ac9vity – 10 mins • In pairs draw up a table in your books outlining the advantages and disadvantages of a single market.
Advantages of a single market • • • • •
Specialisa-on and economies of scale Free movement of capital Free movement of labour Compe--on Higher economic growth and standards of living
Disadvantages of a single market • Increased specialism can lead to short-‐run job losses • Manufacturing firms are aGracted to low labour costs in poorer countries • Mul-na-onal companies can drive out local firms • Capital and some jobs are aGracted away from countries not near the popula-on centres
Key Terms • Single market – the economies of different countries can be treated as one when a firm is considering its domes-c market • Customs union – a group of countries, such as the EU, which have free trade between members, but a common external barrier.
Exam prac9ce • “The disadvantages of being a member of the EU outweigh the advantages.” • Evaluate this statement, giving both sides of the argument. (12 marks) – Include examples to improve your answer.
Signing of the Rome Trea9es
Homework – due Monday • Complete the worksheet
Ac9vity – 10 mins • In pairs draw up a table in your books outlining the advantages and disadvantages of a single market.
Advantages of a single market • • • • •
Specialisa-on and economies of scale Free movement of capital Free movement of labour Compe--on Higher economic growth and standards of living
Disadvantages of a single market • Increased specialism can lead to short-‐run job losses • Manufacturing firms are aGracted to low labour costs in poorer countries • Mul-na-onal companies can drive out local firms • Capital and some jobs are aGracted away from countries not near the popula-on centres
Key Terms • Single market – the economies of different countries can be treated as one when a firm is considering its domes-c market • Customs union – a group of countries, such as the EU, which have free trade between members, but a common external barrier.
Exam prac9ce • “The disadvantages of being a member of the EU outweigh the advantages.” • Evaluate this statement, giving both sides of the argument. (12 marks) – Include examples to improve your answer.
