Listener: 28 February, 1981.

Keywords: Business & Finance;

With today’s fashion for advocating ‘more market”. it may be useful to consider the structure of New Zealand markets. A market may have one of many structures, and government intervention in each ought to reflect that.

If the market is highly competitive. with a large number of buyers and sellers, then much of the economic regulation may be left to it. With a single seller and many buyers, the government may have to limit the monopoly’s ability to abuse its own power There are many other market structures, including few sellers, many buyers and sole seller sole buyer.