Three countries,X,Y,and Z are part of a member area where they have eliminated all barriers to trade such as tariffs,quotas,and non-tariff barriers like border restrictions,while at the same time keeping their own external tariffs against nonmembers.Such an area could be described as a(n)_____ area.
A) regional
B) spatial
C) open trade
D) embargo
E) free trade

Question

Quizplus · Accepted Answer

An area where countries have eliminated barriers to trade among themselves while maintaining their own external tariffs against nonmembers is called a free trade area. Therefore, the best choice for this scenario is E, "free trade."

Three Countries,X,Y,and Z Are Part of a Member Area Where