Which of the following is NOT a characteristic of a common market?

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Removal of trade barriers between member statesEstablishment of a unified tax policy and shared currency systemFreedom of movement for production factors among membersImposition of a uniform external tariff on imports from outside countriesCoordination of economic policies among member nations

Explanation

A common market typically includes the removal of trade barriers among member countries, free movement of labor and capital, and a common external tariff on imports from non-members. However, it does not necessarily require a unified tax system or a monetary union, which are features of deeper economic integration like an economic or monetary union.