perfect competition

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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
References in periodicals archive ?
What's clear, though, is that Lyft now sees collaboration rather than pure competition as its best route to being able to serve customers with self-driving vehicles.
From a perspective of pure competition, China would want to decrease the strength of the EU to show its own prominence.
Now, an interventionist political praxis based on social normativity both denies pure competition and meritocracy as the basis of economic evolution and stabilization and connects the market's structuration and evolution to civil society's social normativity and political claims.
As economies become more efficient, and industries fall into pure competition markets, the opportunity gaps to deliver an alpha become less evident.
Big money, not pure competition, has become our commitment.
Some of the tensions can be chalked up to pure competition. The range and scope of Russia's natural resources are second only to the U.S.
That doesn't stop at pure competition or physical activity.
Rather than integrate this criterion to justify a more flexible competition policy approach during the crisis (reduced fines for financially unstable companies, more opportunity for state aid), it would appear that a pure competition logic is being put into practice, which wants to see the disappearance of a non-viable company from the market.
The orthodox antitrust mantra went something like this: "Pure competition was the ideal in terms of efficient resource allocation, big firms colluded or exercised monopoly power, and the government's antitrust laws were there to protect consumers ...
Friedberg contributes an informative, although not entirely novel, history of modern US-China relations: from the almost pure competition between the United States and China since the founding of the PRC; to strategic cooperation throughout the latter half of the Cold War; to the mixed strategy of "congagement" that has defined US policy for the past two decades.
The result is that eventually, the industry will approach a state of equilibrium (pure competition) where profits are minimal.
In other words, entrepreneurial firms do not want to operate under conditions of what is termed "pure competition".