| 单词 | perfect competition |
| 释义 | perfect competition perfect competition A market in which no buyer or seller has the power to influence prices, which result solely from an equilibrium of supply and demand. For such a market to exist there would have to be a multiplicity of small buyers and sellers, no barriers to entry, and a state of perfect information about prices; moreover, the goods offered by the various sellers would have to be undifferentiated to prevent the development of monopolistic competition. The idea of pure competition is mainly useful as a tool for analysing the ways in which real-world markets diverge from such a model. Probably, no such market has ever truly existed: the nearest approximations would be certain markets for agricultural products and some types of competitive auction (including online auctions). |
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