A single market is an economic system that allows goods, services, capital, and people to move freely between member countries without tariffs or other trade barriers. This arrangement aims to enhance trade and economic cooperation, making it easier for businesses to operate across borders. One of the most well-known examples of a single market is the European Union (EU), which enables its member states to trade seamlessly. By eliminating restrictions, the single market promotes competition, increases consumer choice, and can lead to lower prices for goods and services.