English
English version

imperfect market

From Longman Business Dictionary
Related topics: Economics
imperfect marketimˌperfect ˈmarket [singular] ECONOMICS a market in which buyers and sellers do not have complete information about a particular product, where it is difficult to compare prices of products because they are different from each other etcWhat theory says should happen in a state of perfect competition may not occur in real, imperfect markets. market
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