a market model that assumes a large number of buyers and sellers, a homogeneous product, complete freedom of movement of factors of production from one industry to another, and full knowledge of prices and technology
a law that seeks to control market structure and the competitive behaviour of firms
a state of competition in a market in which buyers and sellers have imperfect knowledge of the market and there is a lack of freedom of movement of factors of production from one industry to another
a limit placed by the government on the amount of imports or exports of a particular article or commodity
joining together of two or more companies
a decrease in per-unit cost as a result of an increase in output
the presence in a market of a large number of independent buyers and sellers competing with one another and their freedom to enter and leave the market
the situation in a market in which there is only one supplier of a commodity and he therefore faces no competition
anything that prevents the entry of new firms into an industry
a market which is dominated by a few large suppliers
a market resulting from the existence of large economies of scale in an industry where technical factors make the efficient existence of more than one producer impossible
a form of fixed-interest security issued by central or local governments, companies, banks through which a borrower is obligated to pay the princip�l and interest on a loan at a specific date in the future
a market in which many firms produce similar goods or services but each maintains some independent control of its own price