The best known example of a common market is the:

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The European Union is the best known example of a common market, which is defined as a group of countries that have eliminated tariffs and other trade barriers among themselves while maintaining individual tariff policies toward nonmember countries. The EU allows for the free movement of goods, services, capital, and labor among its member countries. NAFTA (B), CAFTA (C), and the Asia-Pacific Agreement (D) are free trade agreements, which are different from common markets in that they only eliminate tariffs on goods traded among member countries, but do not necessarily allow for the free movement of services, capital, and labor.

The Best Known Example of a Common Market Is The