imperfect competition

Definition

Any departure from perfect competition. However, imperfect competition usually refers to one of the market structures other than perfect competition.

Use this term in a sentence

You need to find new ways to deal with the market any time there will be imperfect competition in it.

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We had some imperfect competition to worry about, but I didn't think it would cause too much of a disturbance.

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The young cyclist won the race by breaking the rules and using steroids, assuring his victory in this imperfect competition.

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