Home — Essay Samples — Economics — Brexit. Regardless of whether they support it or not, Brexit is a reality that would have a big impact It is unfortunate that the younger generations are those who mostly opposed Brexit but are ultimately the ones that would be affected by it most in the long term. Given how much debate there is around the topic but also its importance, essays on Brexit are still relevant for students as they allow them to reflect and learn more about the expected impact, to express their own attitude, all of which might become the fundament for a more active civic and political position.
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The possibility of the UK leaving the European Union or the so-called Brexit is a key source of concern for the major part of the British business world. It is assumed that the potential changes in the trade relations with the EU, as well as the uncertainty associated with investments, can have a negative impact on the UK economy. World economists and analysts try to carry out predictions regarding the possible consequences of this decision. In order to analyze the character of the potential outcomes, it is critical to study the way Brexit will affect various economic aspects such as imports, exports, investment sector and others. The paper at hand is aimed at elucidating the advantages and disadvantages of the UK leaving the union from different perspectives. While analyzing the role of EU for the British economy, it is critical to understand the fact that the former currently regulates almost all the aspects of the British trade. It is also important to note that EU members belong to the customs union, which means they are not imposed by the trade tariffs or customs controls on the products moving inside the EU, as well as a common tariff that refers to goods entering the EU from the outside.
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The term resulted from a merger of two words: Br itain and exit to become Brexit. Such process was similar to the manner in which a possible Greek exit from the euro was labeled Grexit previously. The United Kingdom held a referendum on Thursday 23 June, which was to decide whether the nation should leave or remain in the European Union.