A single market is a type of trade bloc which is composed of a free trade area (for goods) with common policies on product regulation, and freedom of movement of the factors of production (capital and labour) and of enterprise and services. The goal is that the movement of capital, labour, goods, and services between the members is as easy as within them. The physical (borders), technical (standards) and fiscal (taxes) barriers among the member states are removed to the maximum extent possible. These barriers obstruct the freedom of movement of the four factors of production.
A common market is a first stage towards a single market, and may be limited initially to a free trade area with relatively free movement of capital and of services, but not so advanced in reduction of the rest of the trade barriers.
The European Economic Community was the first example of a both common and single market, but it was an economic union since it had additionally a customs union.
Read more about Single Market: Benefits and Costs, List of Single Markets
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... As a consequence of taking part in the EU single market they need to adopt part of the Law of the European Union ... CSDP AFSJ CFR Prüm Symbols Divorce Patent Schengen Euro CU Single market Energy Community ECT ECAA CoBx EEA EMCDDA EMSA EASA ERA EDA Albania EU applicant (c) x x x x Andorra s x Armenia Austria x x x x ...
... CARICOM Single Market, the first phase of CARICOM Single Market and Economy, a single market union between most Caribbean States Chartered ...
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... CSME, EU) Customs and Monetary Union (CEMAC/franc, UEMOA/franc) Common market (EEA, EFTA, CES) Customs union (CAN, CUBKR, EAC, EUCU, MERCOSUR, SACU ...
Famous quotes containing the words market and/or single:
“The only reason to invest in the market is because you think you know something others don’t.”
—R. Foster Winans (b. 1948)
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white desire, empty, a single stem;
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