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Imperfect market |
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Imperfect marketEconomic environment in which the costs of labor and other resources used for production encourage firms to use substitute inputs that less costly.Imperfect market Similar MatchesImperfect competitionImperfect competitionAny departure from perfect competition. However, imperfect competition usually refers to one of the market structures other than perfect competition. Capital market imperfectionCapital market imperfectionAnything that interferes with the ability of economic agents to borrow and lend as much as they wish at a fixed rate of interest that truly reflects probability of repayment. A common source of imperfection is asymmetric information. Market imperfectionMarket imperfectionAny departure from the ideal benchmark of perfect competition, due to externalities, taxes, market power, etc. Imperfectly competitiveImperfectly competitiveRefers to an economic agent (firm or consumer), group of agents (industry), model, or analysis that is characterized by imperfect competition. Contrasts with perfectly competitive. |
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