Notes On The Telecommunications Single Market

Not only was a decision made to create the EMU but the governments of the member states also signed on creating a political union for “an ever closer union among the peoples of Europe”. The discussion within the negotiations on the Maastricht Treaty focused on themes like the role of the European Parliament, establishing a European citizenship, the development of new common policies such as culture and interior affairs and the creation of a common foreign

In order to understand the evolvement of the Single Market of the European Union, one has to take the general background into consideration. Therefore, it is important to have a look at the Treaty on European Union (Maastricht Treaty) which gave birth to the creation of the Single Market. Having been the Common Market before the Maastricht treaty, the European Economic Community (EEC) Treaty already clarified the objective of cooperation between member states. Throughout the Single Market, those objectives should be transformed into reality.

The European Union (EU) is a unique economic and political partnership between 28 different countries. It consists of about half a billion citizens, and its combined economy represents about 20 percent of the world’s total economy (Briney, 2015). Today The European Union works as a single market, with free movement of people, goods and services from one country to another. There is a standard system of laws to be followed, and since 1999 many countries share a single currency called the Euro (Europa.eu, 2015). This essay will explore the background history of the European Union and the benefits and drawbacks of the European Union.

national-level market. The concept of a market is one that Meredith L. McGill tactfully delves

Free trade is a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports) or quotas. According to the law of comparative advantage, the policy permits trading partners’ mutual gains from

The four defined market structures include perfect competition, monopoly, monopolist, and oligopoly. Although firms within these four different structures compete within the economic market together, each have their distinct characteristic. Perfect competition includes producers who all produce the same good. When looking at perfect competition you will see that both the buyers and sellers are price takers. The agricultural market is one of the few perfectly competitive markets. A monopoly consist of one product being sold by one seller. In a monopoly one firm controls the market. Monopolies have high entry barriers eliminating competition and product duplication. If an artist has the ability to produce original sculptures that no one can duplicate, then they have a monopoly.

Throughout this paper we are going to discuss and explain many different economic subject matters. First we will compare and contrast public goods, private goods, common resources, and natural monopolies. This will be

A market can be clearly explained as a place where products can be purchased by buyers and sold by sellers. This means that a market consists of consumers who create demand of the products, producers who supply the products, and a space where both groups can meet together to make a trade. According to Prof. R. Chapman, however; the meaning of market is defined as not necessarily to a location but invariable to a commodity (goods and services) and the buyers and sellers who are involved in a competition with one another (Chands, 2014). In terms of Economics, a market system is divided in 3 categories, including mixed market system, command or planned market system and free market.

The free trade agreement is a pact between two countries or areas in which they both agree to life most or all tariffs, special fees and taxes, and other barriers to trade between the entities. (White, 2015) The main purpose of the free trade agreement is to allow faster and more businesses between the two countries which is seen to benefit both of them.

. Free trade deals usually focus on getting rid of tariffs on goods. But the Single Market is more than just a free trade zone. (Chan, 2017) A truly successful single market encourages trade, competition, increases efficiency as well as quality.

Properly defined, the Single Market is a common regulatory area. A country is either part of it, or it is not. If it is not, then it can trade with the countries forming the Single Market, on defined terms. But for the most part those countries which have trading privileges are not required to accept the full freedoms.

Unfortunately, there are huge disparities of the national laws on trade marks of the Member States which resulted in an adverse impact on the internal market. Therefore, “the creation on a unitary trade mark system in the Community was a logical development in the creation of a Common Market”.

The roadmap of making it a hub of free market economy was fostered by the launch of a single currency across the region ‘EURO’, currently the common currency of 19 states out of 28 EU member states creating a ‘EURO Zone’. Also, simultaneously it created Economic and Monetary Union (EMU) maintaining a uniform monetary policy in EURO Zone. However, EMU is not a single institution, its main actors are ("Economic and Monetary Union - European Commission", 2016):

The idea of common market (or internal) is one of the centrepieces of modern liberal political thought which aims to promote economic and social progress through the creation of an area without internal frontiers and through the establishment of economic and monetary union. In this area, the free movement of goods, persons, services and capital must be ensured in accordance with the provisions of the Treaty. These four ‘freedoms’ are the vital elements of the internal market and through the years have been a subject of considerable legal reinforcement. However in order to achieve the four ‘freedoms’, two main integrations were considered. Positive integration which aims on the harmonisation

Regional economic integration has allowed countries to concentrate on issues that pertain to their respective stages of development, in addition to encouraging trade between neighbors. There are five main stages of economic integration: Free trade area, customs union, common market, economic union and political union. Free trade areas exist as the most basic type of economic cooperation. Here, member countries remove all trade barriers but remain free to determine their own trade policies with nonmember nations. An example of this is the North American Free Trade Agreement (NAFTA). Customs unions are similar to free trade zones in that they provide economic cooperation, along with the elimination of trade barriers among member countries. The primary difference from the free trade area is that trade with nonmember countries are treated in a similar fashion as trade with member countries. An example of this is The Gulf Cooperation Council (GCC). Common markets exist to create economically integrated markets between member countries. Trade barriers are removed, in addition to any restrictions on the capital and labor movement between member countries. Similar to customs unions, there is a common trade policy with nonmember nations. The primary advantage to workers is that a visa or work permit is not required for employment in another member country of a common market. An example is the Common Market for Eastern and Southern Africa (COMESA). Economic union is created when