| 单词 | perfect competition |
| 释义 | perfect competition An ideal market situation in which buyers and sellers are so numerous and well informed that each can act as a price-taker, able to buy or sell any desired quantity without affecting the market price. Although very few real world markets are like this, perfect competition is often regarded by economists as a bench-mark with which to compare actual market situations. Perfect competition is contrasted with monopoly, where there is only one seller, and monopolistic competition, in which there are too few market participants for them to act as price-takers. |
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