perfect competition

British  

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

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Example Sentences

The clean ride capped a perfect competition for Blum and DSP Alice who did not knock a barrier down through five rounds, thus returning Germany to the top of the podium in the event for the first time since 1982.

From Reuters

A standard definition of market power, say the authors of the IMF paper, is the ability to maintain prices above marginal cost—the level that would prevail under perfect competition.

From The Wall Street Journal

Maybe that's not perfect competition in the economic sense.

From Los Angeles Times

Economists call it "perfect competition" and it's basically the opposite of a monopoly.

From Los Angeles Times

If there were thousands of players, the HHI would be nearly zero — the blissful state of perfect competition mentioned above.

From Los Angeles Times