In economics, the product market is the marketplace in which final goods or services are offered for purchase by consumers, businesses, and the public sector. Focusing on the sale of finished goods, it does not include trading in raw or other intermediate materials.
Related, but contrasting, terms are financial market and labour market.
Product market regulation is a term used to refer to the placing of restrictions upon the operation of this 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:
- The United Kingdom
- Australia
- United States
- Canada
- New Zealand
- Denmark
- Ireland
References
Product market Wikipedia(Text) CC BY-SA