If Several Countries Form a Regional Trading Pact That Removes

question 143

Multiple Choice

If several countries form a regional trading pact that removes tariffs between the members, implements a common external tariff structure, permits free mobility of factors of production, and integrates fiscal policies, they have formed a

• A) customs union.
• B) economic union.
• C) free trade area.
• D) common market.

---

Definitions:

Knowledge Worker

Someone whose knowledge is a critical resource for employers.

Important Asset

A valuable resource owned by a person or company, regarded as being critical for achieving success or meeting objectives.

Employers

Entities or individuals who hire people to perform services or work in exchange for compensation.

Decision

A choice between alternative courses of action.