Problem
1. Free-trade areas are far more common than customs unions. Why is it much easier to negotiate a free-trade area than it is to arrange for a customs union or a common market?
2. How can both trade creation and trade diversion effects occur in the same product market when a regional bloc is created?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.