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perfect competition
(redirected from Perfectly competitive)

    Also found in: Financial, Wikipedia 0.03 sec.
perfect competition
n
(Economics) 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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Economics teaches us that uncertainty and informational advantages resulting from the division of labor are pervasive facts of markets, except for one market structure in which there is no uncertainty and, more importantly, there is no asymmetric information: the perfectly competitive market model.
Insider trading: is there an economist in the room? by Padilla, Alexandre; Gardiner, Brian / Journal of Private Enterprise
Perfectly competitive equilibrium is also a Platonic ideal in the sense that it is the only stable outcome--that is, the only outcome for which neither buyers nor sellers have an incentive to change their behavior.
Commerce is beautiful by Osborne, Evan / Independent Review
Most firms engaged in international trade do not conform closely with the economists' ideal of being perfectly competitive.
Exchange-rate pass-through to import prices by Humpage, Owen F.; Shenk, Michael / Economic Trends
 
 
 
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