The _____ Has Reduced or Eliminated Internal Tariffs and Adds

question 3

Multiple Choice

The _____ has reduced or eliminated internal tariffs and adds a common external tariff on products imported from countries outside the group.

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

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Definitions:

Economic Clout

Describes the power or influence that entities, such as countries or corporations, hold in economic terms, affecting decisions and policies through financial strength.

Consumerism

The promotion of consumer interests and the prioritization of the acquisition of goods and services in a society.

Global Trade Network

A complex and interconnected system of trade relationships, agreements, and channels that span across different countries and continents, facilitating the exchange of goods and services internationally.

Townshend Acts

A series of British laws passed in the late 1760s imposing duties on various goods imported to the American colonies, which sparked widespread protests and contributed to the American Revolutionary War.