What are the various forms of economic integration? How is trade diversion different from trade creation? Elucidate.

Economic integration refers to the process by which countries come together to enhance cooperation and reduce barriers to trade and investment. It involves the establishment of closer economic ties among nations, often leading to increased economic interdependence. There are several forms of economic integration, each representing varying degrees of cooperation and integration. Two fundamental concepts within economic integration are trade creation and trade diversion. Let's explore these concepts and the different forms of economic integration.

Forms of Economic Integration:

1. Free Trade Area (FTA): In an FTA, member countries eliminate tariffs and other trade barriers on goods and services traded among themselves. However, each country maintains its own external trade policies with non-member countries. The North American Free ______ __________ _______ ____ ________ _____ _________.
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