The Largest Free Marketplace in the World Is

question 123

Short Answer

The largest free marketplace in the world is
NAFTA.
the European Union.
ASEAN.
Mercosur.
the Gulf Cooperation Council.

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Definitions:

Input

Resources used in the production process to create goods or services.

Inputs

Resources such as labor, materials, and capital used in the process of production.

Output

The quantity of goods or services produced by a firm, industry, or economic system.

Diminishing

A principle often observed in economics where additional units of a variable factor increase total output at a decreasing rate.