What does perfect competition mean?

Definitions for perfect competition
per·fect com·pe·ti·tion

Here are all the possible meanings and translations of the word perfect competition.

Freebase

  1. Perfect competition

    In economic theory, perfect competition describes markets such that no participants are large enough to have the market power to set the price of a homogeneous product. Because the conditions for perfect competition are strict, there are few if any perfectly competitive markets. Still, buyers and sellers in some auction-type markets, say for commodities or some financial assets, may approximate the concept. As a Pareto efficient allocation of economic resources, perfect competition serves as a natural benchmark against which to contrast other market structures.

How to pronounce perfect competition?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say perfect competition in sign language?

  1. perfectcompetition

Numerology

  1. Chaldean Numerology

    The numerical value of perfect competition in Chaldean Numerology is: 3

  2. Pythagorean Numerology

    The numerical value of perfect competition in Pythagorean Numerology is: 5

Images & Illustrations of perfect competition

  1. perfect competition


Translations for perfect competition

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"perfect competition." Definitions.net. STANDS4 LLC, 2019. Web. 25 Jun 2019. <https://www.definitions.net/definition/perfect+competition>.

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