Economic Survey MCQ series- Question 22

download

Next question

Consider the following forms of Preferential Trade Agreements (PTAs):

I.Partial Scope Agreement (PSA
II.Free Trade Agreement (FTA)
III.Customs Union (CU)

Which of the followings is/are among the forms of Preferential Trade Agreement?

a) Only I
b) I and II
c)I and III
d)All of the above

The correct answer of the previous question is A

The explanation is as follows

Common Market (CM) A common market is a customs union where movement of factors of production is relatively free amongst member countries.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s