Economic integration whereby countries remove barriers to trade and the movement of labour and capital,erect a common trade policy against non-members,and coordinate their economic policies is called a(n)________.
A)customs union
B)common market
C)economic union
D)free trade area

Question

Quizplus · Accepted Answer

Economic integration that involves removing barriers to trade and movement of labor and capital, having a common trade policy against non-members, and coordinating economic policies is called an economic union. This goes beyond a common market or free trade area, as it involves a higher degree of political and economic cooperation among the member countries. A customs union only involves a common trade policy against non-members, while a common market also allows for the free movement of goods, services, and labor.

Economic Integration Whereby Countries Remove Barriers to Trade and the Movement