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What is the weakest form of economic grouping?
  • a)
    Free trade areas
  • b)
    Customs unions
  • c)
    Preferential trade areas
  • d)
    Common markets
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the weakest form of economic grouping?a)Free trade areasb)Cust...
A preferential trade area is the weakest form of economic grouping. In this type of grouping, member countries reduce customs tariffs in some product categories and apply preferential treatment to goods from member countries compared to the rest of the world. Higher tariffs remain in place for other product categories.
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