Unified market

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A unified market is the economic term for a single market where goods, services, capital and people can move freely without regard to national boundaries. These "four freedoms" are implemented by, among other things, removal of tariffs on the transfer of goods and services among the member nations, imposition of uniform product standards, revision of laws to permit 'market-wide' financial services, and the restructuring of most government procurement practices, so as not to favour local businesses over other member states' businesses.