market integration

Market integration refers to the process where different markets become interconnected and operate as a unified system. This can occur through trade agreements, reduced barriers to entry, or the harmonization of regulations. When markets are integrated, goods, services, and capital can move more freely between regions or countries, leading to increased competition, more choices for consumers, and potentially lower prices. It also allows businesses to expand their reach and access larger customer bases, fostering economic growth and collaboration across borders.