imperfect market
noun[C,usually singular]
ECONOMICSukusamarketthat does notworkas it should, forexample, because there is only onecompanysellingaproductand it cancontrolitspriceandsupply:
Even afterprivatization,wholesaleelectricityis animperfectmarketwideopentomanipulationby thelargegenerators.
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perfect market