perfect competition
An idealized market structure in which there are large numbers of both buyers and sellers, all of them small, so that they act as price takers. Perfect competition also assumes homogeneous products, free entryand exit, and complete information. Most international trade theory prior to the New trade Theory assumed perfect competition.

Browse by Subjects

Popular Economy Terms

Ratio Calendar Combination
dividend payout
accounting unit
COMEX
status
group results
post balance sheet review
cumulative
scrip
Banking Ombudsman