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.