Economics · International Trade & Integration
Read the following statements about a customs union: (i) It is discriminatory in nature. (ii) Tariff rates are lower or zero within the union and a common tariff wall exists outside the union. (iii) Its analysis is based on the theory of the second best. Which of the above statements are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1(i), (ii) and (iii)✓
- 2(ii) and (iii)
- 3(i) and (iii)
- 4(i) and (ii)
Correct answer
(i), (ii) and (iii)
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice International Trade & Integration MCQs →Want more practice questions on International Trade & Integration?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · International Trade & Integration