Which Type of Agreement Is the Most Popular Form of Regional

question 1

Multiple Choice

Which type of agreement is the most popular form of regional economic integration,accounting for almost 90 per cent of regional agreements?

• A)customs union agreement
• B)free trade agreement
• C)common market agreement
• D)political union agreement

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Definitions:

Production Labor Wages

The total amount of compensation paid to employees directly involved in the production of goods or services.

Direct Cost

Costs that can be directly attributed to the production of a specific good or service, such as raw materials and labor directly involved in manufacturing.

Indirect Cost

Expenses that are not directly attributable to a specific product or service, often including overhead costs like utilities or rent.

Administrative Office Salaries

The wages and salaries paid to employees who work in administrative roles within an organization.