Which of the following is NOT a form of economic integration?
Options
AFree Trade Area
BCustoms Union
CCommon Market
DPolitical Union
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International TradePYQ - Nov 2022 (Inter)Question 170 of 20
All Questions Correct Answer
✅ Option d — Political Union
All Options:
- AFree Trade Area
- BCustoms Union
- CCommon Market
- DPolitical Union
About This Chapter: International Trade
Paper
Paper 4: Business Economics
Weightage
10%
Key Topics
Theories, Trade Policy, Exchange Rates
This chapter explores trade between nations — why countries trade, the theories of Absolute and Comparative Advantage, Balance of Payments, Exchange Rate systems (Fixed vs Flexible), and India's trade policy including tariffs, quotas, and WTO rules.
View Official ICAI SyllabusExam Strategy Tip
Understand Comparative Advantage theory thoroughly — it's the foundation of international trade. Also focus on the Balance of Payments structure and what causes deficits.
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