A group of states that have reduced or eliminated trade barriers among themselves but maintain their individual tariffs in dealing with other states is called ________.
A) a customs union
B) a free trade area
C) the United Nations System
D) an economic consultative association

Question

Quizplus · Accepted Answer

A group of states that have reduced or eliminated trade barriers among themselves but maintain their individual tariffs in dealing with other states is called a free trade area. In a customs union, member states also have a common external tariff. The United Nations System and economic consultative associations do not specifically refer to trade agreements.

A Group of States That Have Reduced or Eliminated Trade