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Multiple Select QuestionSelect all that applyA common market, also called a trading bloc, is a regional group of countries with:Multiple select question.no internal tariffsno laws to discourage tradea restriction of trade among membersa common external tariff

Question

Multiple Select QuestionSelect all that applyA common market, also called a trading bloc, is a regional group of countries with:Multiple select question.no internal tariffsno laws to discourage tradea restriction of trade among membersa common external tariff

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Solution

The correct answers for this multiple select question are:

  1. No internal tariffs
  2. No laws to discourage trade
  3. A common external tariff

A common market or trading bloc is a group of countries that have agreed to reduce trade barriers among themselves (no internal tariffs and no laws to discourage trade) and have a common external tariff for non-members. This means they do not restrict trade among members, so the option "a restriction of trade among members" is incorrect.

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