_____ occurs when higher-cost external producers are replaced by lower-cost external producers within the free trade area.
A) Trade creation
B) A customs union
C) Trade diversion
D) A common market
Correct Answer:
Verified
Q4: A benefit to companies of economic integration
Q32: A(n) _ has no barriers to trade
Q34: The establishment of the euro required participating
Q36: A(n) _ entails even closer economic integration
Q39: Linking neighboring countries economically and making them
Q56: In theory, WTO rules should ensure that
Q66: According to _, the trade diversion effects
Q73: Three long-term EU members, Great Britain, _,
Q85: The emerging role of the _ in
Q95: Once barriers to trade and investment are
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents