imperfect competition

British  

noun

1. economics the market situation that exists when one or more of the necessary conditions for perfect competition do not hold

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Example Sentences

And if the blossoming of the literature on imperfect competition in the labor market in recent years is a guide, Myth and Measurement has been a tremendous success.

From Slate • Mar. 19, 2019

The real challenge here isn’t to figure out the best way to regulate cable and phone companies in an environment of constrained capacity and imperfect competition, which is what net neutrality is meant to do.

From Washington Post