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Tamil Nadu Board of Secondary EducationHSC Commerce Class 12

What is Free trade area? - Economics

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Question

What is Free trade area?

Short Note

Solution

  • A free trade area is a region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA).
  • Such agreements involve cooperation between at least two countries to reduce trade barriers, e.g. SAFTA, EFTA.
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Chapter 8: International Economic Organisations - Model Questions [Page 174]

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Samacheer Kalvi Economics [English] Class 12 TN Board
Chapter 8 International Economic Organisations
Model Questions | Q 25. | Page 174
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