The goal of a ________ is to abolish all tariffs among member countries.
A)customs union
B)common market
C)free trade agreement
D)common internal tariff

Question

Quizplus · Accepted Answer

A free trade agreement is a trade agreement between two or more countries to eliminate tariffs and non-tariff barriers to trade among themselves. The goal of a free trade agreement is to increase trade and economic growth between member countries by reducing barriers to trade. While a customs union and common market also involve tariff reduction among member countries, they have additional features such as a common external tariff or the free movement of goods and services, respectively. A common internal tariff is not a term related to trade agreements.

The Goal of a ________ Is to Abolish All Tariffs