Question: What is the difference between a common market and a customs union? A customs union does not have a common external tariff. A common market
What is the difference between a common market and a customs union?
A customs union does not have a common external tariff.
A common market is politically integrated.
A customs union does not reduce or eliminate customs duties between member countries.
A common market adds free cross border mobility of goods, labor, and capital to a customs union.
None of the above.
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