Economic Survey MCQ series- Question 22


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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.

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