imperfect competition
Definition:
Literally any form of competition which does not conform with the definition of PERFECT COMPETITION. Specifically, it is used to describe competition between many (as opposed to a few - OLIGOPOLY) suppliers where the emphasis is on differentiation and non-price competition.
Cross-References:
[perfect competition]
[oligopoly]
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].