ABSTRACT
On January 1, 1993 the European Community (EC) will begin operating as a single, integrated internal market. Since 1985, EC members have laid plans that would remove the barriers to free movement of goods, services, capital, and people among the twelve member nations. Economists predict that an integrated market containing a population of 324 million people will offer a market economy competitive with the United States and Japan. Because of the formation of a single European market, employment is expected to grow by 5 million new jobs, the gross domestic product will increase by seven percent, and prices for goods will be reduced by six percent. 1
