History[ edit ] One of the original core objectives of the European Economic Community EEC was the development of a common market offering free movement of goods, service, people and capital see below. Free movement of goods was established in principle through the customs union between its then- six member states.
The practice of selling identical products in different markets for different prices. Dumping Selling goods or merchandise in another country at a price below the price at which the same merchandise is sold in the home market or selling such merchandise below the costs incurred in production and shipment.
Dumping is an illegal trade practice. Duty A tax imposed on imports by the customs authority of a country. This is provided by way of grant of duty credit against the export product at specified rates. Transferable Advance Licensing Scheme.
The scheme is available to merchant exporters as well as to manufacturer exporters. However, Deemed Exports Refers to those transactions in which the goods supplied do not leave the country and the payment for the goods is received by the supplier in India.
Deactivisation Voluntary discontinuation of the activation of an entire zone or subzone by the grantee or operator. Destination Control Statement Any of various statements that the U.
Government requires to be displayed on export shipments and that specify the destinations for which export of the shipment has been authorized. Devaluation The official lowering of the value of one country's currency in terms of one or more foreign currencies.
Discrepancy - Letter of Credit When documents presented do not conform to the letter of credit. Draft An unconditional order in writing from one person the drawer to another the draweedirecting the drawee to pay a specified amount to a named drawer at a fixed or determinable future date.
Drawback Articles manufactured or produced in the India with the use of imported components or raw materials and later exported are entitled to a refund of the duty charged on the imported products or components. Drawee The individual or firm on whom a draft is drawn and who owes the stated amount.
Drawer The individual or firm that issues or signs a draft and thus stands to receive payment of the stated amount from the drawee. Glossary of Export Import Trade Terms Starting with- E Earnings Response Coefficient The relation of stock returns to earnings surprises around the time of corporate earnings announcements.
Eclectic Paradigm A theory of the multinational firm that posits three types of advantage benefiting the multinational corporation: Economic Freedom Economic freedom occurs when individuals and businesses make most of the economic decisions in an economy.
Economic Integration The integration of commercial and financial activities among countries through the abolishment of economic discrimination.
Economic Union A group that combines the economic characteristics of a common market with some degree of harmonization of monetary and fiscal policies.
Economies of Scale Achieving lower average cost per unit through a larger scale of production. Economies of Vertical Integration Achieving lower operating costs by bringing the entire production chain within the firm rather than contracting through the marketplace.
Effective Annual Interest Rate the interest rate as if it were compounded once per time period rather than several times per period. Contrast with bond equivalent yield and money market yield.
Efficient Frontier The mean-variance efficient portion of the investment opportunity set. Efficient Market A market in which prices reflect all relevant information.
Embargo A type of economic sanction that totally disallows the imports of a specific product or all products from a specific country. Emerging Market An emerging market has a very high growth rate, which yields enormous market potential. It is distinguished by the recent progress it has made in economic liberalization.
Emerging Stock Markets The stock markets of emerging economies. These markets typically have higher expected returns than established markets but also higher risk. Employment Rate The ratio, in percent, of the number of employed persons to total labor force. Endogenous Uncertainty Price or input cost uncertainty that is within the control of the firm, such as when the act of investing reveals information about price or input cost.
Engagement The assumption of payment responsibility in respect of a letter of credit, e.Boycott, Divestment, Sanctions (BDS) is a Palestinian-led, global movement for freedom, justice and equality.
BDS upholds the simple principle that Palestinians are . The principles of the single market of the European Union include the free movement The single market is difficult for services.
free movement of goods. Operationalizing ECOWAS Protocol on Free Movement of People among the Member States: trade in goods and services moved without restriction.
Switzerland signed a free-trade agreement with the then European Economic Community in , which entered into force in Switzerland is a member of the European Free Trade Association (EFTA), and took part in negotiating the European Economic Area (EEA) agreement with the European Union.
It signed the agreement on 2 May , and submitted an application for accession to the EU on A common market is a group of trading nations that permits (1) the free movement of goods and services among member nations, (2) the initiation of common external trade restrictions against nonmembers, and (3) the free movement of factors of production across national borders within the economic bloc.
Due to the EU's founding principle of free movement of people - along with the free movement of goods, services and capital - the UK has no control over immigration from other EU member states.