The subsequent types of trading blocs have the following, Ask an Expert

Economics

The subsequent types of trading blocs have the following definitions:

Free Trade Area -- free trade among members

Customs Union -- free trade among members and common external tariff

Common Market -- free trade among members, common external tariff, and free movement of factors of production

Economic Union -- free trade among members, common external tariff, free movement of factors of production, and harmonization of all economic policies

What are some real-world examples of these different types of trading blocs?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91408459

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