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.

Related MCQs

• 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 imported from nonmembers.
• _______________ occurs when production shifts to more efficient producers for reasons of comparative advantage, allowing consumers access to more goods at a lower price than would have been possible without integration.
• _______________ is an important reason for economic integration.
• Apart from India, Pakistan and Bangladesh who are the other member countries of SAARC?
• Social mobility is measured by
• _______________ occurs when trade shifts to countries in the group at the expense of trade with countries not in the group, even though the nonmember country might be more efficient in the absence of trade barriers.
• If a German manufacturer of household appliances wants to take advantage of the cheaper labor available in the Czech Republic, which of the following actions will not serve that purpose?
• Immobility of labor among nations is
• …………………corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.
• Horizontal integration occurs when