Question

Which of the following are characteristics of an economic union

Common trade regulations

Absence of national governments

Free movement of capital and labor

Prohibition on all external trade

Free movement of goods

Answer 1

the answer i believe is A. common trade regulations

Answer 2

Common trade regulations is a characteristic of an economic union. An economic union is a type of trade group that is set up to only allow those who participate in the common union trade. This type of group is set up to allow countries that share in policies, pratices, external factors and production similarities to trade items with each other. Common trade regulations are the regulations imposed on these items and countries doing the trading.