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GCSE Business · key term
A group of countries that agree to reduce or remove barriers to trade between their members.
Used by Edexcel
Specification 2.1.3 · Paper 2
Revise: Globalisation and International TradeA trade bloc is a group of countries that agree to reduce or remove trade barriers between members. This can make it easier and cheaper for businesses within the bloc to buy supplies and sell to a larger market.
When judging globalisation or trade blocs, consider the business's circumstances: where it buys, sells and produces matters more than a general list of advantages.
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