Common market


 

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Common market

A group of countries that eliminate all barriers to movement of both goods and factors among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the group. Equivalent to a customs union plus free mobility of factors.

Common market

An agreement between two or more countries that permits the free movement of capital and labor as well as goods and services.



Common market

Similar Matches

Non Vessel Operating Common Carriers (NVOCC)

Non Vessel Operating Common Carriers (NVOCC)

An ocean carrier that does not own or operate their own vessels. They use less than full containerloads which they ship on actual ship lines. They issue their own bills of lading which are backed up by actual on board ocean bills of lading issued to them by the other carrier.


Common external tariff

Common external tariff

The single tariff rate agreed to by all members of a customs union on imports of a product from outside the union.


Common tangent

Common tangent

A straight line that is tangent to two or more curves. Used in the Lerner diagram.


Common law

Common law

A body of laws based on custom, usage and rulings by courts in various jurisdictions.


Common shares

Common shares

In general, a public corporation has two types of shares, common and preferred. The common shares usually entitle the shareholders to vote at shareholders meetings. The common shares have a discretionary dividend.


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