June 2015

1:

A common market is one where :

A.

all the trading nations agree commonly to levy a common and uniform tariff rate for all goods.

B.

all the trading nations agree commonly to rationalize tariff and non-tariff barriers mutually to promote intra-region trade.

C.

there is a customs union along with free intra - union movement of factors of production.

D.

there is an economic union along with free intra-union movement of residents.

 

Answer : C

Explanation :

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Option: A

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