Which of the following is defined as a group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies?
A)Free trade area
B)Command economy
C)Efficient market
D)Foreign exchange market
E)Location economy

Question

Quizplus · Accepted Answer

A free trade area refers to a group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies. In the theoretically ideal free trade area, no discriminatory tariffs, quotas, subsidies, or administrative impediments are allowed to distort trade between members.

Which of the Following Is Defined as a Group of Countries