Product market

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Product market is where goods and services produced by businesses are sold to households. The households use the income they receive from the sale of resources to purchase the products. The money they spend is returned to the businesses as revenue. Product market regulation is an economic term that describes restrictions in the market.

Related terms are financial market and labor market.

Product market regulation[edit]

According to an OECD ranking in 1998, English-speaking and Nordic countries featured the least regulated product markets in OECD.[1]

The least regulated product markets were in:

  1. The United Kingdom
  2. Australia
  3. United States
  4. Canada
  5. New Zealand
  6. Denmark
  7. Ireland

See also[edit]

References[edit]

  1. ^ OECD (2005), "Product Market Regulation in OECD Countries: From 1998 to 2003", in OECD, Economic Policy Reforms 2005: Going for Growth, OECD Publishing. DOI: http://dx.doi.org/10.1787/growth-2005-5-en