Question

like the common market, a(n) ________ involves the free flow of products and factors of production between members and the adoption of a common external trade policy.
a. customs union
b. currency union
c. global union
d. free trade area
e. economic union

Explanation:

An economic union combines the features of a common market (free - flow of products and factors of production) and a customs union (common external trade policy). A customs union only has a common external trade policy and free movement of goods between members to an extent. A currency union focuses on a common currency. There is no such widely - recognized 'global union' in this context. A free trade area only has free trade in goods between members without a common external trade policy.

Answer:

e. economic union