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JAMB Economics 1999 Question 46

Question 46

International Trade

A free trade area emerges when

  1. A.traders from one part of the country can move freely to other parts
  2. B.customs regulations are harmonized among countries
  3. C.a group of countries decide to remove restrictions on imports from one another
  4. D.the UNCTAD is in force.
Show the answer and explanation

Answer: C (a group of countries decide to remove restrictions on imports from one another)

Explanation

In a free trade area, member countries remove tariffs and quotas on trade among themselves.