Economics · International Economics
A customs union refers to a group of countries that have:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Abolished all forms of foreign trade with non-member nations
- 2Established a unified currency among member nations
- 3Agreed to allow free movement of labor and capital without harmonizing trade policies
- 4Adopted a common external tariff on imports from non-member countries and eliminated tariffs among themselves✓
Correct answer
Adopted a common external tariff on imports from non-member countries and eliminated tariffs among themselves
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