Imperfect competition


Imperfect competition (as opposed to perfect competition) is a competitive market situation in which there are many sellers, each of whom has a relatively small market share, offering dissimilar goods. Firms have some control—but not necessarily absolute control—over price, by such techniques as differentiating products and limiting supply. Monopoly, oligopoly, monopolistic competition, monopsony, and oligopsony are examples of imperfect competition.[1]

See also


  1. ^ American Marketing Association. AMA Dictionary.

We welcome comments that will help us improve the precision and clarity of our definitions. To submit a suggestion, please click on the Add Discussion bar below.

  • Comments are limited to registered users of this site. Click “Join” at the top right hand side of this page to apply.
  • If you would like to suggest a new marketing definition or have a general comment, please visit our /home page.

Comments are closed.