monopolistic competition
Definition
Use this term in a sentence
“ There was a lot of monopolistic competition because each of the companies sold similar but differentiated items. ”
“ You need to try and figure out a way to break into the monopolistic competition so that your product can get sold also. ”
“ Our company makes a product that is expensive and hard to produce, and is therefore part of a group of four companies that largely controls our industry through the power of monopolistic competition. ”