Common Market (Noun)
Meaning
An international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members; "he tried to take Britain into the Europen Union".
Classification
Nouns denoting groupings of people or objects.
Examples
- The European Economic Community was established in 1958 as a common market for six European countries.
- The common market allowed for the free movement of goods, services, and people among its member states.
- The creation of a common market was a key goal of the European integration process.
- The common market has been a major driver of economic growth and development in Europe.
- The UK's decision to leave the common market has significant implications for its trade relationships with other European countries.