Examlex

Solved

Which Form of Economic Integration Occurs When Participating Countries Abolish

question 160

Multiple Choice

Which form of economic integration occurs when participating countries abolish tariffs on trade among themselves,establish a common tariff on imports from nonmembers,and permit free movement of capital and labor within the organization?


Definitions:

Income-Sharing Ratio

The proportion at which partners in a partnership agreement divide profits and losses among themselves.

Winding Up

The process of dissolving a company, involving liquidating assets to pay off creditors and distributing any remaining assets to shareholders.

Capital Account Balance

The net result of public and private international investments flowing in and out of a country, reflecting changes in ownership of national assets.

Net Income

The amount of profit a company generates after all expenses, taxes, and costs have been subtracted from total revenue.

Related Questions