perfect competition

A completely efficient market situation characterized by numerous buyers and sellers, a homogeneous product, perfect information for all parties, and complete freedom to move in and out of the market.

• Perfect competition rarely if ever exists, but antitrust scholars often use the theory as a standard for measuring market performance.

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词条贡献者

双语律师Terence，国际知名法学院法律专业，擅长翻译各类与油气、资源与采矿业相关的法律文件。