![Distinguish/differentiate between custom Union and Common Market Distinguish/differentiate between custom Union and Common Market](https://digitalteachers.co.ug/wp-content/uploads/2022/09/Bbosa-Science.png)
Distinguish/differentiate between custom Union and Common Market
Custom union is when member countries abolish all tariffs among themselves and adopt a common external tariff policy against nonmember countries.
Common market is when member countries abolish all tariffs among themselves, adopt a common external tariff policy against non-member countries and there is free movement of factors of production among themselves.
CATEGORIES Economics
TAGS Dr. Bbosa Science