Integration Flashcards
1
Q
Customs union
A
No internal trade barriers
Common external tariff
2
Q
Free trade area
A
No internal barriers to trade
3
Q
Single market
A
No internal trade barriers, common external tariff, factor asset mobility
4
Q
Monetary union
A
No internal trade barriers, common external tariff, factor asset mobility, same currency
5
Q
Economic union
A
No internal trade barriers, common external tariff, factor asset mobility, same currency, homogeneous economic policy
