Imperfect market

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Updated: Aug 20, 2021

A market in which the theoretical assumptions of perfect competition are not fulfilled. This may be because there are few buyers, few seilers, a non-homogenous product, an inadequate flow of information or barriers to entry. There are three types of imperfect market which are separately analysed, viz. monopoly, oligopoly and monopolistic competition.

Reference: The Penguin Dictionary of Economics, 3rd edt.



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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.