Question

The eu is an example of a trading bloc, or a______________, which has a common external tariff, no internal tariffs and the coordination of laws to facilitate trade between member countries.

Answer 1

EU stands for European Union. It is a group of 27 nations in Europe that united economically and formed a common market.

The EU is an example of a trading bloc, or a common market, which has a common external tariff, no internal tariffs and the coordination of laws to facilitate trade between member countries.

Answer 2

Answer:

The correct answer is common market.

Explanation:

A common market is an agreement between two or more countries in order to ensure the free movement and exchange of goods, services and production factors between their borders.

In a common market, member countries agree to eliminate, among them, tariff barriers, restrictions on the movement of people, investments or transfers and obstacles to the establishment of companies. At the same time, common economic policies are agreed in order to enhance joint growth.