{"id":4291,"date":"2023-03-01T07:17:07","date_gmt":"2023-03-01T07:17:07","guid":{"rendered":"https:\/\/fisdomdevel.wpengine.com\/glossary\/imperfect-competition\/"},"modified":"2023-03-01T07:17:07","modified_gmt":"2023-03-01T07:17:07","slug":"imperfect-competition","status":"publish","type":"post","link":"https:\/\/www.fisdom.com\/glossary\/imperfect-competition\/","title":{"rendered":"Imperfect Competition"},"content":{"rendered":"<p>\nImperfect competition refers to a market scenario where there are multiple sellers selling non-identical or dissimilar goods. This is opposite to a perfect competition scenario. Here the sellers enjoy the benefit of levying extraordinary prices to enjoy higher profits. This further attracts more sellers to enter the market and loss-making businesses have to see an exit. In such a market scenario, sellers do not need to seek approval from authorities to set their prices and adhere to the requirements of a perfectly competitive market.<\/p>\n<h2>Types of imperfect competition<\/h2>\n<p>Given below are a few types of imperfect competition market structures.<\/p>\n<p>Monopolistic market &#8211; A market with a single seller<br \/>\nOligopolistic market &#8211; A market with a small group of sellers who are capable of influencing prices and production<br \/>\nDuopolistic market &#8211; A market with only two sellers thereby having absolute control over prices and production<br \/>\nOligopsony &#8211; A market with a very limited set of buyers<br \/>\nMonopsony &#8211; A market with only one buyer.<\/p>\n<h2><\/h2>\n<h2><\/h2>\n<h2><\/h2>\n<h2><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Imperfect competition refers to a market scenario where there are multiple sellers selling non-identical or dissimilar goods. This is opposite to a perfect competition scenario. Here the sellers enjoy the benefit of levying extraordinary prices to enjoy higher profits. This further attracts more sellers to enter the market and loss-making businesses have to see an [&hellip;]<\/p>\n","protected":false},"author":67,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-4291","post","type-post","status-publish","format-standard","hentry","category-investing-essentials"],"_links":{"self":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/4291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/comments?post=4291"}],"version-history":[{"count":0,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/4291\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/media?parent=4291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/categories?post=4291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/tags?post=4291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}