Economic integration often progresses:
A) in stages, from free trade area to customs union to common market.
B) in stages, totally dependent on the members' national economic strength.
C) as a result of cultural beliefs and economic strength.
D) in unpredictable ways due to unintended consequences.

Question

Quizplus · Accepted Answer

Economic integration typically progresses in stages, starting with a free trade area where member countries reduce trade barriers between themselves, followed by a customs union where they agree to a common tariff on imports from non-member countries, and finally a common market where there is free movement of goods, services, capital, and labor. This is a common approach taken by regional integration initiatives such as the European Union (EU).

Economic Integration Often Progresses