Which of the following is a characteristic of countries in a free trade area?
A) abolition of internal tariffs and quotas
B) establishment of common external barriers
C) removal of restriction on factor movements
D) harmonization of economic, social, and regulatory policies

Question

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A free trade area involves the abolition of internal tariffs and quotas between member countries, allowing for free trade among them. This promotes increased trade and economic cooperation between the member countries. Option B refers to a customs union, option C to a common market, and option D to an economic union, which are different forms of regional economic integration.

Which of the Following Is a Characteristic of Countries in a Free