Definition of common market in English:

common market

noun

  • 1A group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries.

    • ‘‘In a globalising world of common markets and trade agreements, alcohol policy is thus no longer only a national or sub-national matter,’ he said.’
    • ‘It required that companies in the common markets for steel and coal publish price lists.’
    • ‘Corporate behaviour adjusted so rapidly to the prospect of the common market that companies became impatient to see the benefits of the deals concluded and of the new investments made.’
    • ‘There is no doubt that there are some advantages to having a single currency throughout the European common market.’
    • ‘Indeed, common markets, be they national or otherwise, are exercises in the prevention of certain sorts of competition as well as the encouragement of other forms.’
    • ‘Which means that certain institutional changes within Europe, as existing in an expanded common market, must occur.’
    • ‘Finally, if restrictions on the mobility of factors of production are eliminated, a common market is established.’
    • ‘But they are working together in the European Union, gaining from a single currency and a common market.’
    • ‘The keys to success are a common market, non-competing products or services, shared values and comparable resources.’
    • ‘The EU is destined to become what big business have always wanted it to be, just a common market.’
    • ‘One of those is that goods sold in one Member State by the proprietor should flow freely and without hindrance throughout the common market.’
    • ‘Certainly, political union and a common market require a uniform frame of reference to prevent major distortions in competition.’
    • ‘Thirty years ago, we joined a common market that was little more than a free trade area.’
    • ‘These rules have created a common market with strong internal competition.’
    • ‘First, equality of opportunity must be preserved for all commercial operators in the common market.’
    • ‘What progress had been made towards the creation of a common market before the single market initiative?’
    1. 1.1A name for the European Economic Community or European Union, used especially in the 1960s and 1970s.

Pronunciation:

common market

/ˈkämən ˈmärkət/