perfect competition


Also found in: Financial, Encyclopedia, Wikipedia.
Related to perfect competition: Monopolistic competition, oligopoly

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 ?
Firstly, to improve the traceability, transparency and replicability of the data sources used as inputs, the usage of the model and its output results; secondly, to increase the usefulness of the model in policy making by increasing the geographical coverage and bringing the base year to a more recent period; thirdly, to update model features to accommodate other market forms different from perfect competition and improve the current model specifications in consumption, labour market and the capital block in the model; and fourthly, update the Fidelio manual according to the modifications carried out during the execution of the contract.
In the present world of perfect competition we need to encourage new technologies and innovations for successful marketing any product.
The campaign by students from City of Glasgow College won the charity's Pitch Perfect competition, aimed at reducing sectarianism in Glasgow.
However, Wigan coach Adrian Lam saw him as perfect competition for the half-back places and handed him a two-year deal that the player is keen to make the most of.
But Wigan coach Adrian Lam (below) saw him as perfect competition for the half-back places and handed him a two-year deal that the player is keen to make the most of.
Neoliberal economists, who worship in the altar of free trade, love to make theoretical constructs on the basis of assumptions under an imagined world of perfect competition.
The general conclusion from the stylized analysis indicates that the outcomes of the Cournot duopoly lie between that of the perfect competition and Stackelberg ones when a performance-based allowance market is considered.
"The Nations League, for me, is a very attractive competition, a perfect competition," says Spain boss Luis Enrique.
Traditional economic theory holds that a monopoly can take advantage of consumers by imposing higher prices than would otherwise be possible under conditions of "pure and perfect competition." By this simple reasoning, legislators and judges must rein in monopolistic "despoilers" by imposing heavy fines, or by breaking them up, as has happened many times throughout history.
CS McLean, who was a finalist in the 2016 Bloody Scotland Pitch Perfect competition, is a support act for the podcast Two Crime Writers and a Microphone featuring LucaVeste and Steve Cavanagh withVal McDermid, Abir Mukherjee and Stuart Neville.
He said potential of agriculture sector was imperative for sustainable higher GDP growth, promote perfect competition among companies and services units and discourage monopoly in open market.
Dr Naeem said potential of agriculture sector was imperative for sustainable higher GDP growth, promote perfect competition among companies and services units and discourage monopoly in open market.