In economics, the product market is the marketplace where final goods or services are sold to household and the foreign sector . Focusing on the sale of finished goods, it does not include trading in raw or other intermediate materials.
Product market regulation is a term for the placing of restrictions upon the operation of the product market. According to an OECD ranking in 1998, English-speaking and Nordic countries had the least-regulated product markets in the OECD. The least-regulated product markets were to be found in:
- United Kingdom
- Australia
- United States
- Canada
- New Zealand
- Denmark
- Ireland
According to the OECD, indicators for product market regulation include price controls, foreign ownership barriers, and tariffs, among other things.
See also
- Factor market (economics)
- Product marketing
References
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