Arrange the following levels of economic integration, from least integrated to the most integrated:

A. Customs Union

B. Free Trade Area

C. Economic Union

D. Common Market

E. Political Union

Choose the correct answer from the options given below

This question was previously asked in
UGC NET Paper-2: Commerce 26th Dec 2021 Shift 1
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  1. E, D, C, A, B
  2. B, A, D, C, E
  3. D, C, A, B, E
  4. A, B, C, D, E

Answer (Detailed Solution Below)

Option 2 : B, A, D, C, E
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UGC NET Paper 1: Held on 21st August 2024 Shift 1
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50 Questions 100 Marks 60 Mins

Detailed Solution

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The correct answer is B, A, D, C, E.

Key PointsEconomic Integration:

  • One of the major economic trends that has affected global trade in recent years is economic integration.
  • Countries have sought to cooperate economically in order to utilise their resources more efficiently and to generate substantial markets for the countries that would make up the ensuing integrated territories.

Important Points

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