Common Market

Common Market Meaning:
A market comprised of a number of countries who have agreed to have common policies about regulation, and where there is free movement of labor and capital. The idea is that the movement of labor, capital, goods and services should be as free between member countries as it is within any one of them.

Common Market Example:
The European Union is a common market. This means that there should be no impediment on citizens of member countries who wish to invest in a member country other than their own, or move to another country in order to live, work (whether self-employed or employed by another), study or retire.