The creation of the European Common Market and the subsequent growth of the customs union in Europe is best an example of the importance of ________ in international trade.

Question

Quizplus · Accepted Answer

The creation and growth of the European Common Market and customs union are examples of the importance of international institutions in promoting trade. The European Union, for example, established common rules and regulations governing trade among member states, which reduced trade barriers and facilitated the movement of goods and services across borders. The creation of such institutions requires cooperation and agreement among member states, and the success of these institutions depends on their ability to enforce their rules and regulations effectively.

The Creation of the European Common Market and the Subsequent