Which of the following is correct regarding Common Market (CM)?
A market where movement of factors of production is relatively free amongst member countries.
B. A market where movement of factors of production is restricted amongst member countries.
C. A market where member countries coordinate macro-economic and exchange rate policies.
D. The free-trade agreement in which members apply a common external tariff (CET) schedule to imports from non members.
The correct answer for the previous question is C
The explanation is as follows:
A free trade agreement is a preferential arrangement in which members reduce tariffs on trade among themselves, while maintaining their own tariff rates for trade with non-member