- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
- Company Profile:
A customs union formed in 1958 by the Treaty of Rome among six countries of Europe: Belgium, France, Germany, Italy, Luxembourg, and Netherlands; predecessor to the EC in 1967 and the EU in 1992.
Industry:Economy
A free trade area made up of countries in Europe that did not join the European Economic Community. EFTA was established in 1960 among Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the United Kingdom. As of 2010 it includes Iceland, Liechtenstein, Norway, and Switzerland.
Industry:Economy
A group of European countries that have chosen to integrate many of their economic activities, including forming a customs union and harmonizing many of their rules and regulations. Preceded by EEC and EC. As of July 25, 2010, the EU had 27 member countries.
Industry:Economy
A temporary institution that existed from January 1994 to June 1998 during the years leading up to the European Central Bank and the introduction of the euro. It's purpose was to facilitate cooperation and coordination among the central banks of the EU and to pave the way for the shift to the euro.
Industry:Economy
A currency union formed by some of the members of the EEC in 1979 that continued, with changing membership, until replaced by the EMU and the euro in 1999.
Industry:Economy
A market restriction in the labor market, most often limits on wages and on the ability of firms to terminate workers.
Industry:Economy
A country is labor scarce if its endowment of labor is small compared to other countries. Relative labor scarcity can be defined by either the quantity definition or the price definition.
Industry:Economy
1. An itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). 2. The net inflow (surplus) or outflow (deficit) of these payments.
Industry:Economy
1. National income plus capital consumption allowance. 2. Same as gross national product.
Industry:Economy
