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

(MORE THEN ONE)

Answer 1

1&3.....................

Answer 2

The correct answers are "common trade regulations", "free movement of capital and labor" and "free movement of goods".

Step-by-step explanation:

An economic union is an agreement that two or more countries make in order to have a common market with common policies of product regulation among the members involved. This kind of agreement usually involves that the countries share common trade regulations, which allows for free movement of capital, labor and goods. Examples of economic unions include the CSME, EU, EAEU, MERCOSUR, GCC and SICA.