The European Union is an example of a/an
A. | customs union |
B. | economic union |
C. | common market |
D. | free trade area |
Option: C Explanation : Click on Discuss to view users comments. |
A SEZ is
A. | a regional area within which trade with foreign nations is allowed |
B. | a free trade agreement among several nations |
C. | designed to limit exports of manufactured goods by placing export taxes on goods made within the zone |
D. | designed to promote exports by deferring import duties on intermediate inputs and waving such duties if the final product is re-exported rather than sold domestically |
Option: D Explanation : Click on Discuss to view users comments. |
A feasible effect of international trade is that a (an)
A. | Monopoly in the home market becomes an oligopoly in the world market |
B. | Oligopoly in the home market becomes a monopoly in the world market |
C. | Purely competitive firm in the home market becomes an oligopolist |
D. | Purely competitive firm in the home market becomes a monopolist |
Option: A Explanation : Click on Discuss to view users comments. |