Results for tag: "Imperfect Competition"

Imperfect Competition is a market structure in Economics that is characterized by a lack of perfect competition. It is a market structure in which there are multiple sellers, but each seller has some degree of market power. This market power can be due to a variety of factors, such as the seller's ability to set prices, the seller's ability to differentiate their product from competitors, or the seller's ability to control the supply of the product. Imperfect Competition can also be caused by barriers to entry, such as high start-up costs or government regulations. Examples of companies in the Imperfect Competition market include Apple, Microsoft, Amazon, Walmart, and McDonald's. These companies have a degree of market power due to their ability to set prices, differentiate their products, and control the supply of their products. Show Less Read more