The creation of a single market out of a number of separate markets previously defined by national boundaries in order to take advantages of a larger market is called
A) economic integration.
B) economic cooperation.
C) monetary union.
D) market coordination.

Question

Quizplus · Accepted Answer

Economic integration refers to the process of removing barriers to trade and investment between countries to create a single market. This can include the removal of tariffs, quotas, and other trade barriers, as well as the harmonization of regulations and standards. The goal is to take advantage of economies of scale, increase competition, and promote greater efficiency in the allocation of resources. Economic integration can take different forms, such as a free trade area, customs union, common market, or economic union.

The Creation of a Single Market Out of a Number