perfect competition
noun[U]
ukus(alsopure competition)ECONOMICS
asituationwhere thesellersof aproductorservicearefreetocompetefairly, andsellersandbuyershavecompleteinformation
Compare
imperfect competition
monopoly
Examplesofperfect competition
perfect competition
Perfectcompetitionis the only market structure for which a supply function can be derived.
From
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.In 2002 it was noted that the "dala dala" market seems to remain under conditions close to classicalperfectcompetition.
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.If a resource is not rare, thenperfectcompetitiondynamics are likely to be observed.
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.This could lead to an efficient outcome approachingperfectcompetition.
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Unlikeperfectcompetition, imperfect competition invariably means market power is unequally distributed.
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.While real markets may not be perfectly competitive, the model ofperfectcompetitionprovides a good approximation to real market behaviour.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Free entry is part of theperfectcompetitionassumption that there are an unlimited number of buyers and sellers in a market.
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.These games are often used to provide a foundation for theperfectcompetitionhypothesis, one of the basic concepts in economics.
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.In that matter, it is similar to theperfectcompetitionmodel sometimes used in economics.
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Common market structures studied besidesperfectcompetitioninclude monopolistic competition, various forms of oligopoly, and monopoly.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
- as-dry-as-a-bone
- ASEAN
- (as) easy as pie
- as-easy-as-pie
- (as) easy as pie/ABC/anything/falling off a log
- as-easy-as-pie-abc-anything-falling-off-a-log
- asemic
- aseptic
- as ever
- as-ever
- as every schoolboy/schoolchild knows
- as-every-schoolboy-schoolchild-knows
- asexual
- asexuality
- asexually
- asexual reproduction
- asexual-reproduction
- as-far-as-is-concerned
- as far as it goes
- as-far-as-it-goes
- as-far-as-knows
- as far as someone is concerned
- as far as someone knows
- as far as the eye can/could see
- as-far-as-the-eye-can-could-see