In _______________, countries focus on eliminating internal tariffs among member countries, have a common external trading policy among nonmembers, allow free mobility of productions factors within member countries, and adopt common economic policies.

Related MCQs

• A _______________ focuses on eliminating internal tariffs with member countries levying a common external tariff on goods being imported from nonmembers. Additionally, this type of regional economic integration allows free mobility of production factors such as labor and capital.
• In which of the following types of regional economic integration are internal tariffs eliminated with member countries levying a common external tariff on goods being
• Which of the following types of regional economic integration focuses only on eliminating internal tariffs?
• Consider the following statements and identify the right ones. i. The 1980 industrial policy emphasized "economic federalism" ii. Liberal license policies were advocated for agro-based industries
• Which of the following is true: A. Development of sufficient and quality infrastructure helps in economic development by facilitating production and investment in any economy. B. shortage of these facilities in underdeveloped countries is the main cause of less economic development
• Despite having large reserves of coal, why does India import millions of tonnes of coal? 1. It is the policy of India to save its own coal reserves for the future and import it from other countries for the present use. 2. Most of the power plants in India are coal based, and they are not able to get sufficient supplies of coal from within the country. 3. Steel companies need a large quantity of coking coal, which has to be imported. Which of the statements given above is/are correct?
• The _______________ is a political organization comprised of 185 countries, and it is headquartered in New York City. This organization deals with a variety of political issues, such as security and world peace, but it also deals in humanitarian and economic issues.
• Consider the following statements and identify the right ones. i. The Industrial Policy of 1948 was the first industrial policy statement by the Government ii. It gave leading role to the private sector
• The most urgent problem which prompted the introduction of the New Economic Policy in 1991 was
• The most urgent problem which prompted the introduction of the New Economic Policy in 1991 was