WORLD HISTORY

Detailed explanation-1: -A common market, also known as a trade block, is a market that allows trade and exchange of labor or services between specific countries. It is the result of a regional or intergovernmental agreement that permits agreeing countries to trade with one another with little or no barriers to trade.

Detailed explanation-2: -The Single Market created a unified trading territory that functions without the border regulations and tariffs which typically apply to trade between countries. The Single Market allows the unrestricted movement of goods and services as well as capital and people throughout the territory or bloc.

Detailed explanation-3: -A great example is the European single market, where free trade is allowed throughout the 27 EU member states and 5 non-EU states, and there’s clear economic integration between countries. A single market may also be called a common market or internal market.

Detailed explanation-4: -A single internal market without borders The EU aims to enable EU citizens to study, live, shop, work and retire in any EU country and enjoy products from all over Europe. To do this, it ensures free movement of goods, services, capital and persons in a single EU internal market.