imperfect competition

World English Dictionary
imperfect competition
economics the market situation that exists when one or more of the necessary conditions for perfect competition do not hold

Collins English Dictionary - Complete & Unabridged 10th Edition
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Main Entry:  imperfect competition
Part of Speech:  n
Definition:  any of several market situations in which individual producers or consumers still exercise some control over prices, e.g. monopoly, oligopoly, monopsony, or oligopsony's 21st Century Lexicon
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