The European Free Trade Association (EFTA), comprising Iceland, Norway, Switzerland, and Liechtenstein (joined in 1991), was founded in:
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Answer: B. 1960
Explanation
The European Free Trade Association was established by the Stockholm Convention in 1960. It provided an alternative trade bloc for European nations that chose not to join the European Economic Community. Choosing 1960 accurately identifies the founding year of this regional trade organization. EFTA founding members included countries like Norway, Sweden, Switzerland, Austria, Denmark, and Portugal. The organization aimed to promote free trade and economic integration among its member states across Europe. Liechtenstein joined the association later in 1991, strengthening its economic ties with Switzerland.
Alternative trade agreements allow smaller European countries to access single markets without political integration. Economic cooperation in post-war Europe took multiple institutional paths depending on national sovereignty preferences. Studying trade blocs helps economists understand the evolution of modern European economic relationships. Option A precedes the formal negotiations and signing of the Stockholm Convention that created the association. Option C points to the mid-1950s when early European integration discussions were focused elsewhere. Option D refers to the founding year of the European Coal and Steel Community, the precursor to the EEC.
- Subject
- Political Science
- Category
- International Relations
- Topic
- —
- Difficulty
- medium
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