The form of economic cooperation that calls for 1)eliminating internal barriers to trade and 2)establishing common external barriers is known as a(n):
A)European Union.
B)Economic union.
C)Customs union.
D)Free trade area.
E)Common market.

Question

Quizplus · Accepted Answer

A customs union is a form of economic integration where members eliminate internal trade barriers and establish common external trade barriers for nonmembers. This means that trade rules between member countries become standard which can lead to better trade relations. It is different from the free trade area where members only eliminate internal trade barriers.

The Form of Economic Cooperation That Calls for 1)eliminating Internal