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Term
| Regional economic integration |
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Definition
agreements between countries in a geographic region to reduce tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each other
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| Eliminates trade barriers between members(NAFTA) |
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Definition
| common external trade policy (ANDEAN Pact) |
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Definition
| free movement of capital and labor(MERCOSUR) |
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| common currency, monetary policy, harmonized tax and fiscal policy |
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| common government(United States) |
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| involves identifying distinct groups of consumers whose purchasing behavior differs from others |
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