Product & Factor markets (1 Viewer)

[jackii_87]

What is the difference between them?

And what is National competition Policy reforms?

Thanks!

 

[ToO LaZy ^*]

product markets = finished goods on the market (eg ETMs)
factor markets = used to make the final goods (eg labour, raw materials, entrepreneur, land etc...)

national competition policy: a microeeconomic policy used to improve efficiency of domestic markets and therefore improve international competitiveness. (eg reduced tariffs and other protectionist policies)

 

[jackii_87]

thanks for your help mate =]

 

[ToO LaZy ^*]

its cool..