Customs union
What Customs union means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Customs union
Check what you remember
Read the wording for your board, then hide it and explain Customs union in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
A trading bloc that adds a common external tariff to a free trade area.
Topics that use Customs union
- International trade (Pearson Edexcel A-Level)
Related terms
- Comparative advantage
- Opportunity cost
- Over-specialisation
- Specialisation
- Trade creation
- Trade diversion
- Trading blocs
- Exports
Using Customs union in the exam
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