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Scenario: Moonland Union Twenty-Six Nations, a Through Z Countries of Moonland Region, Have

Question 26

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Scenario: Moonland Union
Twenty-six nations, A through Z countries of Moonland region, have decided to cooperate with one another to eliminate trade barriers among them and create Moonland Union. They are not sure, however, to what extent they want to cooperate.
-If these 26 nations remove all barriers to trade among themselves but erect a common trade policy against nonmembers, they would create a(n) ________.


A) free-trade area
B) economic union
C) customs union
D) common market

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