Trisha Shetty (Editor)

Imperfect competition

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In economic theory, imperfect competition is a type of market structure showing some but not all features of competitive markets.

Forms of imperfect competition include:

  • Oligopoly, in which there are few sellers of a product.
  • Monopolistic competition, in which there are many sellers producing highly differentiated products.
  • Monopoly, where there are many buyers but only one seller.
  • Monopsony, where there are many sellers but one buyer.
  • Oligopsony, where there are many sellers but few buyers.
  • References

    Imperfect competition Wikipedia