Question

like a customs union, the theoretically ideal ____ has no barriers to trade between member countries and a common external trade policy.

a. regional market
b. free trade area
c. common market
d. tariff union
e. external market

Explanation:

A customs - union - like entity with no internal trade barriers and a common external trade policy is a common market. A regional market doesn't necessarily have a common external policy. A free - trade area has no internal barriers but no common external policy. A tariff union has a common external tariff but may not have full integration like a common market. An external market is not relevant in this context.

Answer:

C. common market