The different stages of economic integration among groups of countries include (1) a common market, (2) a free-trade area, (3) an economic union, (4) a preferential trade area, and (5) a customs union. The proper order of the above stages in terms of least integrated to most integrated is:

Question

Quizplus · Accepted Answer

The correct order from least to most integrated is: preferential trade area, free-trade area, customs union, common market, and economic union. This progression reflects increasing levels of integration and coordination among member countries.

The Different Stages of Economic Integration Among Groups of Countries