WAEC Economics 2015 Objective — Question 47
Question 47 of 50 from the West African Examinations Council (WAEC) Economics 2015 Objective paper, with the correct answer and a full explanation.
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The abolition of all forms of trade barriers among member countries while maintaining common external tariffs against non-members is a feature of a
- A. free trade area
- B. customs unionCorrect
- C. common market
- D. economic community
Explanation
A customs union removes trade barriers among its members and additionally imposes a common external tariff on non-member countries, distinguishing it from a simple free trade area.
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