Did you know?
The European Union has created a single market of over 500 million people, allowing businesses to access a larger customer base than ever before. The European Union has a single set of laws that cover the whole of the EU, making it easier for businesses to understand and comply with regulations. The European Union has made it much easier for businesses to trade between countries without having to deal with different regulations and tariffs in each country.
Which of the following is a benefit of the European Union for businesses?
- Increased competition
- Higher taxes
- Access to a large single market
- Trade barriers
What is the currency used by most European Union member countries?
How has the European Union impacted small and medium-sized enterprises (SMEs)?
- Imposed stricter regulations and bureaucracy on SMEs
- Reduced market opportunities for SMEs
- Increased access to funding and support programs
- Limited growth potential for SMEs
Brain break: Draw a dinosaur painting its own colorful toenails
How does the European Union promote free trade among its member countries?
- By increasing taxes on imported goods
- By favoring domestic businesses over foreign ones
- By imposing strict import restrictions
- By eliminating tariffs and trade barriers
In pairs: Select one task
Question: What impact has the European Union had on Business since its creation?
The EU has created a single market with free movement of goods and services. The EU has created a common currency called Euro. The EU has established common regulations for businesses to follow.
A: Work in pairs to research how the EU has affected business in the last 30 years. B: Create a drawing to explain the positive and negative impacts of the EU on business.