Question

Define a Common Market:

a) Removing all barriers to the free flow of goods, services, and factor
b) Pursuing a common external trade policy
c) All of the above
d) Only b and c

Answer 1

A common market is an economic agreement that allows for the free trade of goods, services, labor, and capital among member countries, while also pursuing a common external trade policy.

Step-by-step explanation:

A common market is an economic agreement between countries that allows for the free trade of goods, services, labor, and financial capital among its members. Additionally, it involves the pursuit of a common external trade policy. This means that the member countries agree to have a unified approach to trade with non-member countries. Therefore, the correct answer to the question is d) Only b and c.