There are four levels of regional economic integration.What is their order,from lowest to highest level of integration?

Question

Quizplus · Accepted Answer

The correct order of regional economic integration from lowest to highest level of integration is: 
(1) Free trade area- elimination of tariffs and quotas, 
(2) Customs union- free movement of goods plus common external tariffs on non-member countries, 
(3) Common market- free movement of goods, services, capital, and people, 
(4) Economic union- common policies on economic issues such as monetary and fiscal policies. The given order follows this sequence.

There Are Four Levels of Regional Economic Integration