In customs union members apply common external tariff schedule to imports from non members.Select the correct answer from the following codes
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer:B
In customs union members apply common external tariff schedule to imports from non members.Select the correct answer from the following codes
A. Only 1 B. Only 2 C. Both 1 and 2 D. Neither 1 nor 2
Explanation: A customs union (CU) is a free-trade agreement in which members apply a common external tariff (CET) schedule to imports from non members. The five forms of PTA are A. Partial Scope Agreement (PSA) B. Free Trade Agreement (FTA) C. Customs Union (CU) D. Common Market (CM) E. Economic Union (EU).Q.4 Which of the following is/are features of Economic union?