The Southern Common Market (MERCOSUR) is actually a _____.

Question

Quizplus · Accepted Answer

MERCOSUR is a customs union, as it has a common external tariff and allows for the free movement of goods within its member countries (Argentina, Brazil, Paraguay, Uruguay, and Venezuela). While it does have some elements of a common market, such as the free movement of factors of production, it lacks some key features of a true common market, such as a unified currency and coordinated economic policies.

The Southern Common Market (MERCOSUR) Is Actually a _____