Question

An agreement between two countries to maintain a free trade area, a common external tariff,free mobility of capital and labour and some degree of unification in government policies and monetary policy is called

Answer 1

it is a ageryment by government and world traders to trade everywher in those countey and unification and labours are legebal for that work in order of traders and policy is trade booming bussiness

Answer 2

An agreement between two countries to maintain a free trade area, a common external tariff,free mobility of capital and labor and some degree of unification in government policies and monetary policy is called Economic Union

Explanation:

• An economic union is a process of creating free trading between countries through liberalization of governmental policies and a unified  policy between the countries. They have a common agreement on  following certain measures through the global markets for the distribution of goods and services.
• The economic union helps with improving the efficiency of trading on a common economic ground through an agreed trading policy for the free movement of goods.  The labor is allowed to migrate to the countries and work according to the policies of economic union
• The agreement between the countries involve monetary and other fiscal transactions for coordinating the taxes involved and spending between the countries. These are based on fixed exchange rates and unified currency

To know more about economic union

An economic union comprises of a common market and a custom union." explain.

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