What are customs union and monetary unions and how are they different from one another ? Your answer should reflect practical examples too. 10 marks
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Solution 1
A customs union is a form of economic integration where member countries agree to eliminate tariffs and other trade barriers among themselves, while maintaining a common external tariff on imports from non-member countries. This means that member countries can trade with each other freely, without a Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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