question archive Where member countries reduce or abolish restrictions on trade between each other while maintaining their individual protectionist measures against non-members is called a options: Common Market Customs Union Economic Union Free Trade Area
Where member countries reduce or abolish restrictions on trade between each other while maintaining their individual protectionist measures against non-members is called a options: Common Market Customs Union Economic Union Free Trade Area
Subject:EconomicsPrice:2.87 Bought7
Where member countries reduce or abolish restrictions on trade between each other while maintaining their individual protectionist measures against non-members is called a
options:
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Common Market |
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Customs Union |
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Economic Union |
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Free Trade Area |
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The answer is Free Trade Area
Expplanation:
A common market is a type of trade bloc in which most trade barriers have been removed with some common policies on trade. Whereas a customs union is generally defined as a type of trade bloc which has a common external tariff. Meanwhile an economic union is a type of trade bloc is a combination of common market with a customs union.
