Perfect competition

Perfect competition
An idealized market environment in which every market participant is too small to affect the market price by acting on its own. The New York Times Financial Glossary

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perfect competition UK US noun [U] (also pure competition)
ECONOMICS a situation where the sellers of a product or service are free to compete fairly, and sellers and buyers have complete information
Compare IMPERFECT COMPETITION(Cf. ↑imperfect competition), MONOPOLY(Cf. ↑monopoly)

Financial and business terms. 2012.

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