What are the features/characteristics of an Economic Union
- Free movement of goods and services
- Common policies on product regulation
- Common external polity and external tariff structure.
- Free movements of capital and factors of production,
- Trans-borders infrastructure such roads, postal service, railways.
- Economic unions integrate monetary and fiscal policy. Member countries coordinate and harmonize government policy, taxation, and spending
- Supranational institution are required to regulate commerce within the union of the rules
- Same geographical locations
- All members adopt a uniform set of policies when trading with non-members
CATEGORIES Economics
TAGS Dr. Bbosa Science
