Which of the following represents the stage where economic integration is least complete?
A) Free trade area
B) Monetary union
C) Common market
D) Customs union

Question

Quizplus · Accepted Answer

A free trade area is the stage where economic integration is least complete, as it only eliminates tariffs and other barriers to trade between member countries. It doesn't involve a common external tariff or coordination of trade policies among member countries. The next stages of economic integration, in increasing order of completeness, are a customs union, a common market, and a monetary union.

Which of the Following Represents the Stage Where Economic Integration