European Union and Currency
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Social Studies
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6th Grade
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Medium
Cristian Rivas
Used 88+ times
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13 Slides • 6 Questions
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European Union and Currency
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Multiple Choice
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Fill in the Blanks
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Member Benefits
Members may use a common currency (euro) that makes trade easier.
EU works to improve trade, education, farming, & industry among its members
1. No tariffs (taxes) among member countries – free trade zone
2. Citizens of one country can move freely to another country
3. Citizens can live and work in any other EU nation
4. Citizens can vote in local elections even if they aren’t citizens of the country
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The Euro
•The euro is the currency of MOST EU countries.
•Member countries can choose to give up their own currency and exchange them for euros. (For example, French francs and German marks have been replaced by the euro.)
•A common currency makes trade between the countries much easier and less expensive.
•12 countries in the EU do not use the euro. (For example, the United Kingdom has decided to continue to use the British pound.)
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Non Members
There are several countries that are NOT EU members, including Turkey, Switzerland, Iceland, & Russia.
WHY?
1. Turkey’s culture (98% Muslim), stability, and location to the Middle East causes some EU members to not want Turkey to join.
2. Switzerland has one of the world’s highest standards of living and prefers its economy to not be regulated under the EU.
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Non Members
3. The EU has strict limits on the fishing industry, and Iceland does not want the EU’s control on its most important economic activity.
4. Russia prefers to be an independent world leader over its resources and economy
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Open Ended
What are resources?
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Voluntary Trade
Voluntary Trade happens when both countries expect to gain from the trade.
The “buyer” country receives goods and the “seller” country makes money.
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Multiple Choice
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Open Ended
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Open Ended
European Union and Currency
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