imperfect competition

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situations in which goods are priced too highly because of lack of competition (monopolies, oligopolies, etc ) or lack of information about market conditions
a market that does not have all the features of a perfectly competitive market (chapter 7)
A market situation in which one or more buyers or sellers are important enough to have an influence on price
Occurs when the actions of at least one buyer or seller have an effect on the market price The opposite of imperfect competition is perfect competition
any market structure in which there is some competition but firms face downward-sloping demand curves
describes the situation when a single producer can affect the market price by varying the amount of product available in the market
A market situation or structure in which producers have some degree of control over the price of their product Examples include monopoly and oligopoly See also perfect competition
imperfect competition

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    im·per·fect com·pe·ti·tion

    Türkçe nasıl söylenir

    împırfîkt kämpıtîşın

    Telaffuz

    /əmˈpərfəkt ˌkämpəˈtəsʜən/ /ɪmˈpɜrfɪkt ˌkɑːmpəˈtɪʃən/