common markets
Unified trading blocs
A common market is an economic agreement between countries that allows free movement of goods, services, capital, and labor across borders.
It goes beyond a free trade zone by eliminating internal tariffs and harmonizing regulations: The European Common Market preceded the European Union.
The term often appears in discussions of regional economic integration.
- tradeExchange of commodities
- tariffsTaxes on imports
- EuropeanFrom that continent
- unionJoining into one
- blocAllied group sharing interests
trade bloc · member states · customs · customs union · duty free · goods · borders · open borders · free trade · trade agreement · economic · integration · merchants · NAFTA · agreement · exchange · commerce · barriers
common marketsautarky
Complete economic independence
economic isolation · protectionism · trade barriers · tariff walls · isolationism
common, market, commons, commonly, commonness, commonality, commoner, uncommon, uncommonly