Does European Union make us better off? 1. The General Agreement on Tariffs and Trade was intended to ease trade barriers. What are the economic arguments put forward by those who favour an easing of trade barriers? 2. Assess the impact on British firms if the government decided to leave the European Union. 3. One of the most significant benefits of leaving the European Union would be the estimated saving of £6.4 billion pounds from abandoning the Common Agricultural Policy. What effect does CAP have upon the international market for foodstuffs? 4. Investigate why other countries have sought to join other free trade areas, such as NAFTA (North American Free Trade Area) and APEC (Asia-Pacific Economic Co-operation). Consider whether the benefits of membership for Asian countries may be as great as for countries in the European Union.