Common Market

A Common Market is a type of economic agreement between countries that allows free trade and movement of people, goods, and services among its members. It eliminates tariffs and other barriers, fostering closer economic integration. This arrangement enables countries to benefit from economies of scale and increases competition, which can lead to lower prices and greater choices for consumers. Notably, the European Union initially began as a common market, highlighting how such agreements can promote cooperation and growth among nations while providing mutual economic benefits.