European Union - Business Revision Notes
© irevise.com 2016.
All revision notes have been produced by mockness ltd for irevise.com.
- The European Union is a trading bloc consisting of 28 countries. It is a single market, therefore all its members benefit from free trade.
- CAP, CFP: these EU grants help primary industries such as farming and fishing. It gives employees in this sector a better standard of living and modernises and improves the industry.
- Attracts Transnational Companies: EU membership attracts companies who want access to the EU market to Ireland. These companies provide thousands of jobs and buy raw materials from Irish firms.
- Grants: the EU provides grants to improve the infrastructure of Ireland. Irish businesses can transport goods faster as a result of these improvements.
- Opportunity to Increase Profits: Irish companies now have the chance to sell their products to a market of over 500 million people without any barriers to trade. This provides a massive opportunity to increase profits.
- The Commission overseas the running of the EU.
- It consists of a representative from each member state called a Commissioner.
- Each commissioner is a responsible for an area such as health.
- Example: Phil Hogan from Irel...