Home > Terms > Armenian (HY) > անթերի մրցակցություն
անթերի մրցակցություն
The most competitive market imaginable. Perfect competition is rare and may not even exist. It is so competitive that any individual buyer or seller has a negligible impact on the market price. Products are homogeneous. Information is perfect. Everybody is a price taker. Firms earn only normal profit, the bare minimum profit necessary to keep them in business. If firms earn more than that (excess profits) the absence of barriers to entry means that other firms will enter the market and drive the price level down until there are only normal profits to be made. Output will be maximized and price minimized. Contrast with monopolistic competition, oligopoly and, above all, monopoly.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: Economics
- Company: The Economist
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
տպիչ
Հարակից սարքի տեսակ, որը համակարգչային թղթի վրա կամ այլ միջոցների տեղեկատվության կողմից արտադրում է բարդ կրկնօրինակներ:
Contributor
Featured blossaries
Browers Terms By Category
- Architecture(556)
- Interior design(194)
- Graphic design(194)
- Landscape design(94)
- Industrial design(20)
- Application design(17)
Design(1075) Terms
- Health insurance(1657)
- Medicare & Medicaid(969)
- Life insurance(359)
- General insurance(50)
- Commercial insurance(4)
- Travel insurance(1)
Insurance(3040) Terms
- Festivals(20)
- Religious holidays(17)
- National holidays(9)
- Observances(6)
- Unofficial holidays(6)
- International holidays(5)
Holiday(68) Terms
- Dating(35)
- Romantic love(13)
- Platonic love(2)
- Family love(1)
Love(51) Terms
- Christmas(52)
- Easter(33)
- Spring festival(22)
- Thanksgiving(15)
- Spanish festivals(11)
- Halloween(3)