Question on: JAMB Economics - 2004
The European Union was formed to
A
promote free trade within member nations
B
promote economic integration in non-member countries
C
assist countries to achieve their economic goals
D
finance development projects in member nations
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Correct Option: A
The European Union (EU) was primarily formed to foster economic and political cooperation among its member states. A key aspect of this cooperation is the promotion of free trade within the union. This eliminates trade barriers like tariffs and quotas, allowing goods, services, capital, and people to move freely between member countries, which in turn boosts economic activity and integration.
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