perfect competition
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
Words Nearby perfect competition
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
How to use perfect competition in a sentence
perfect competition requires that this bidding for labor and capital shall continue up to the profit-annihilating point.
Essentials of Economic Theory | John Bates ClarkAn ideal of perfect competition became an idol to which much human flesh and blood were sacrificed.
Supply and Demand | Hubert D. HendersonThey assumed that this ideal would be best secured by "perfect competition."
Supply and Demand | Hubert D. HendersonNow the only condition under which cost of production will regulate value is perfect competition.
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