imperfect competition

Definitions

Economics

  • noun a situation in which there are only a few sellers whose products are similar but not substitutes. The producers do not have a large enough share of the market to be important enough to influence the market. The situation is not quite a monopoly.

Health Economics

  • (written as Imperfect Competition)
    A market situation in which sellers need to search out the profit-maximizing price for their products.

Marketing

  • noun the degree of competition in a market which is somewhere between a monopoly at one extreme and perfect competition at the other.

Media Studies

  • noun a situation in which market forces are dependent on those buying and selling, and can be easily influenced by them.
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