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common market (FO)<br />A CUSTOMS UNION within which there is free movement of labour and capital, no tariffs between its member countries and a coM. MON EXTERNAL TARIFF to exclude other countries' produce. A common market in many respects behaves like a national ECONOMY as all firms of the same industry are in competition across national boundaries and can draw upon the same pool of labour and financial capital. The absence of tariffs within this market enables production to be allocated according to the principle of COMPARATfVE ADVANTAGE. The EUROPEAN UNION is a major modern example.<br /><em>See also:</em> single market
<strong>Withdrawal date</strong> – The date the student withdraws, as determined by the school. May also be referred to as the last date of attendance (LDA) or the out of school date (OSD).
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<strong>Teacher shortage area</strong> – A federally designated geographic area, grade level, discipline, or academic, instructional, subject matter that has been classified as a shortage area by the U.S. Department of Education.
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