Meaning of perfect competition | Babel Free
Definitions
A theoretical type of market structure, where there are many firms providing homogeneous (especially, fungible) goods or services, resulting in allocative and productive efficiency in the long run but also precluding profitability.
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.
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