Editing Single market (section)

==Benefits and costs==
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A single market has many benefits: with full freedom of movement for all the factors of production between the member countries, the factors of production become more efficiently allocated, further increasing productivity.{{Citation needed|date=January 2017}}

For both business within the market and consumers, a single market is a competitive environment, making the existence of monopolies more difficult.{{Citation needed|date=January 2017}}  This means that inefficient companies will suffer a loss of market share and may have to close down. However, efficient firms can benefit from [[economies of scale]], increased competitiveness and lower costs, as well as expecting profitability to increase as a result.{{Citation needed|date=January 2017}} This is true especially for companies selling goods and services easily distributed all around the countries of single market.

Consumers are benefited by the single market in the sense that the competitive environment brings them cheaper products, more efficient providers of products and also increased choice of products and their quality.{{Citation needed|date=January 2017}} What is more, businesses in competition will innovate to create new products; another benefit for consumers.{{Citation needed|date=January 2017}}

Single market play significant role in increasing prosperity of nations involved in this area. For example, single market helps European Union to achieve annual growth of GDP with 2.2% p.a. between 1992 and 2006, rise in employment and job creation.

Transition to a single market can have a negative impact on some sectors of a national economy due to increased international competition. Enterprises that previously enjoyed [[protectionism|national market protection]] and national [[subsidy]] (and could therefore continue in business despite falling short of international performance benchmarks) may struggle to survive against their more efficient peers, even for its traditional markets. Ultimately, if the enterprise fails to improve its organization and methods, it will fail. The consequence may be unemployment or migration.<ref>{{Cite book|title=Theory and Practice of International Economic Law|last=Usman|first=Adamu Kyuka|publisher=Malthouse Press|year=2017|isbn=9789875477568|pages=279}}</ref>

National participation into single market opens political debates, about skills loss through worker migration from less developed countries, and wage suppression in countries to which they migrate.{{citation needed|date=November 2019}}