imperfect market

imperfect market definition - business

imperfect market

  1. A market in which individual suppliers or consumers have an impact on supply or demand. For example, a market characterized by a monopoly or oligopoly is imperfect.
  2. A market in which information is incomplete. Participants in an imperfect market are more likely to make poor decisions than they would be if information were more readily available.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.