perfect competition
A theoretical type of market structure, where there are many firms providing…A theoretical type of market structure, where there are many firms providing homogeneous (especially, fungible) goods or services, resulting in allocative and productive efficiency in the long run but also precluding profitability.
Meaning
1 senses(uncountable)A theoretical type of market structure, where there are many firms providing homogeneous (especially, fungible) goods or services, resulting in allocative and productive efficiency in the long run but also precluding profitability.
Antonyms
2 antonymsWord family
2 related wordsLessons for this word
1 lessons- A1Countable and uncountable nouns — Because it can be uncountable