ALL meanings of common market
com·mon mar·ket
C c - countable noun common market A common market is an organization of countries who have agreed to trade freely with each other and make common decisions about industry and agriculture. 3
- proper noun common market The Common Market is the former name of the European Union. Some people still refer to the European Union as the Common Market. 3
- noun common market an association of countries formed to effect a closer economic union, esp. by means of mutual tariff concessions 3
- noun common market the European Economic Community 3
- noun common market Official name European Economic Community. an economic association established in 1958 and originally composed of Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany, created chiefly to abolish barriers to free trade among member nations and to adopt common import duties on goods from other countries: the United Kingdom, the Republic of Ireland, and Denmark joined in 1973, Greece joined in 1981, and Spain and Portugal joined in 1986. Abbreviation: CM. 1
- noun common market (sometimes lowercase) any economic association of nations created for a similar purpose. 1