The Most Basic Economic Integration and Cooperation, in Which Governments

question 12

Multiple Choice

The most basic economic integration and cooperation, in which governments agree to participate jointly to develop basic industries beneficial to each economy, is the

• A) political union.
• B) common market.
• C) regional cooperation for development (RCD).
• D) customs union.
• E) free trade area (FTA).

---

Definitions:

Arbitration

A method of resolving disputes outside of court, where an impartial third party (the arbitrator) makes a decision after hearing all sides.

Dispute Privacy

The contention or disagreement over the handling, sharing, or protection of personal data and information.

Mediation Confidential

A principle that ensures all discussions, negotiations, and documents produced during mediation cannot be disclosed or used in court.

ADR

Alternative Dispute Resolution, a range of procedures such as mediation and arbitration for resolving disputes without the need for litigation.