common market

Related Terms
Group formed by countries within a geographical area to promote duty free trade and free movement of labor and capital among its members. European community (as a legal entity within the framework of European Union) is the best known example. Common markets impose common external tariff (CET) on imports from non-member countries.

Use 'common market' in a Sentence

Sometimes countries will try and form a common market so that their businesses can flourish selling to each other in an easier fashion.
20 people found this helpful
The common market in the region was able to agree on the optimal resource allocation methods based on natural resources.
17 people found this helpful
The country formed a common market and that made a lot of the people living there very happy and optimistic.
16 people found this helpful

Email Print Embed