Multiple Select QuestionSelect all that applyA common market, also called a trading bloc, is a regional group of countries with:Multiple select question.no laws to discourage tradea restriction of trade among membersno internal tariffsa common external tariff
Question
Multiple Select QuestionSelect all that applyA common market, also called a trading bloc, is a regional group of countries with:Multiple select question.no laws to discourage tradea restriction of trade among membersno internal tariffsa common external tariff
Solution
The correct answers for this question are:
- No internal tariffs
- A common external tariff
A common market or trading bloc is a group of countries that have agreed to reduce trade barriers among themselves, such as tariffs (taxes on imports). This is what is meant by "no internal tariffs".
They also agree to have a common external tariff, which means they all charge the same tariffs on goods coming in from countries outside the bloc.
The options "no laws to discourage trade" and "a restriction of trade among members" are incorrect because a common market is designed to encourage trade among members, not restrict it.
Similar Questions
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