Suppose brazil, argentina, columbia, peru, and chile decide to form the south american union to increase trade among each other. this would be an example of a (n) :

The answer to this question is Economic community

Economic community refers to the cooperation between several nations in order to achieve an economic advantage in Global competition.

Members of the economic community usually will be granted several incentives such as lower tax in trading with another member, fewer regulation, and smoother movement of resource flow.