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Consider the following statements: i. Preferential Trade Agreement stands for reduced tariffs on certain goods and services traded amongst the member countries while higher tariffs on non-member countries. ii. Custom Union is a Free Trade Area with an arrangement that each member country can have different external tariffs with non-member countries. iii. European Union is a good example of Custom Union. iv. NAFTA is an example of Custom Union Which of the options is/are showing correct statements?
This question appeared in the SPSC Prelims 2025 examination (GS). It is Question 62 out of 100 questions in this paper.
This question was part of the SPSC Prelims 2025 (GS). The SPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all SPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.