________ Involves the Free Flow of Products and Factors of Production

question 51

Multiple Choice

________ involves the free flow of products and factors of production between member countries, the adoption of a common external trade policy, a common currency, harmonization of members' tax rates, and a common monetary and fiscal policy.

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

---

Definitions:

Spring-loaded

A mechanism or device that uses a spring to return to its original position after displacement.

Allison WT

refers to a series of automatic transmissions designed and produced by Allison Transmission for vehicles, especially trucks and buses, known for their reliability and efficiency.

Drop-box

A gearbox that alters the direction of drive, typically used in heavy-duty vehicles to transmit power from the engine to the axles.

Extra-low Range

A gear setting in vehicles offering significantly reduced speed and increased torque for challenging terrain or heavy loads.