A common market is one where:
A. all the trading nations agree commonly to levy a common and uniform tariff rate for all goods
B. all the trading nations agree commonly to rationalize tariff and non-tariff barriers mutually to promote intra-region trade
C. there is a customs union along with free intra-union movement of factors of production
D. there is an economic union along with free intraunion movement of residents
Answer: Option B
This Question Belongs to Commerce >> Business Environment And International Business
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