What are trading blocs?
A) groups of countries that use a common currency in order to borrow from member nations
B) groups of countries that have reduced or eliminated tariffs allowing for a free flow of goods among member nations
C) groups of countries that prohibit trade with non-member nations
D) groups of countries that are freely trading

Question

Quizplus · Accepted Answer

Trading blocs are groups of countries that have agreements to reduce or eliminate trade barriers such as tariffs and quotas, allowing for a free flow of goods among member nations. This promotes trade and economic integration among the member countries.

What Are Trading Blocs