Which Economic Integration Scheme Is Solely Intended to Abolish Trade

question 242

Multiple Choice

Which economic integration scheme is solely intended to abolish trade restrictions among member countries,while setting up common tariffs against nonmembers?

• A) Economic union
• B) Common market
• C) Free trade area
• D) Customs union

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Definitions:

Extra Funds

Additional money available beyond what is necessary for regular expenses, which can be saved or invested.

Input Costs

Expenses that are incurred in order to produce goods or services.

Beverages

Liquid drinks, which can be alcoholic or non-alcoholic, consumed for refreshment or pleasure.

Appetizers

Small dishes served before the main meal to stimulate the appetite.