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A single market is a type of
A common market is usually referred to as the first stage towards the creation of a single market. It usually is built upon a free trade area with no tariffs for goods and relatively free movement of capital and of services, but not so advanced in reduction of
A unified market is the last stage and ultimate goal of a single market. It requires the total free movement of goods, services (including financial services), capital and people without regard to national boundaries.
A common market allows for the free movement of capital and services but large amounts of trade barriers remain. It eliminates all quotas and
A single market (sometimes called 'internal market') allows for people, goods, services and capital to move around a union as freely as they do within a single country – instead of being obstructed by national borders and barriers as they were in the past. Citizens can study, live, shop, work and retire in any member state. Consumers enjoy a vast array of products from all member states and businesses have unrestricted access to more consumers. A single market is commonly described as "frontier-free". However, several barriers remain such as differences in national tax systems, differences in parts of the services sector and different requirements for e-commerce. In addition separate national markets still exist for
A completed, unified market usually refers to the complete removal of barriers and integration of the remaining national markets.