oved on trade among membe h nation retains its own barrier ith non-members. preferential trade arrangemen“ customs union

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
7
A (
economic integration wherein all barriers
are removed on trade among members,
) is the form of
but each nation retains its own barriers to
trade with non-members.
preferential trade arrangements
customs union
common market
free trade area
Transcribed Image Text:A ( economic integration wherein all barriers are removed on trade among members, ) is the form of but each nation retains its own barriers to trade with non-members. preferential trade arrangements customs union common market free trade area
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