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Shalnov [3]
1 year ago
6

In a(n) ________, members eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate bar

riers to the movement of the factors of production.
free trade area

common market

customs union

economic union
Business
1 answer:
Elanso [62]1 year ago
6 0

Option B, In a(n) , common market members eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production.

A legal agreement that creates a collection of nations that adopt a single external policy  tariff is known as a common market. Countries that participate in a single market also permit free commerce as well as the free movement of capital and labor within the group's members. It establishes a common external tax on imports in the market. Members of this market thus do away with trade restrictions and embrace or adhere to a common policy.

learn more about common market here:

brainly.com/question/3317960

#SPJ4

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Answer:

Following are the solution to the given point.

Explanation:

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If the domestic price of a country for  a good is lower than world price before trade, it mean that the country is producing that good efficiently - at a cheaper cost. After trade, the country would export the good, so that the world can produce more of the goods it produces efficiently.

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(To close the Income Summary account )

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