perfect competition

noun

1. economics a market situation in which there exists a homogeneous product, freedom of entry, and a large number of buyers and sellers none of whom individually can affect price

Example Sentences

Perfect competition requires that this bidding for labor and capital shall continue up to the profit-annihilating point.

From Project Gutenberg

An ideal of perfect competition became an idol to which much human flesh and blood were sacrificed.

From Project Gutenberg

They assumed that this ideal would be best secured by "perfect competition."

From Project Gutenberg

Now the only condition under which cost of production will regulate value is perfect competition.

From Project Gutenberg