Q11 Complete the passage below using the words in the word bank. Each word is used once.
Price
Comparisons European
Central Bank (ECB)
Tariffs Eurozone
Foreign Direct
Investment Price
Stability Common
Agricultural Policy (CAP)
Transaction Costs
Public Procurement Single Market
The EU is a ____________________________ where goods, services, people and capital move freely between member states. ____________________________ of people means Irish citizens can live, work and study in any EU country without a visa. Goods traded between member states have no ____________________________, which are taxes added at the border. EU membership attracts ____________________________, as foreign companies base themselves in Ireland to sell to the rest of the EU, and Irish farmers receive EU funding through the ____________________________. Irish businesses can also bid for government contracts in other member states, known as ____________________________.
Free Movement
The countries that use the euro as their currency are known as the ____________________________. The ____________________________, based in Frankfurt, manages the euro and sets the interest rate for the members. Sharing the euro means there are no ____________________________ for changing currency, prices shown in euro make ____________________________ easier, and there is ____________________________ as no exchange rates are used for transactions.