imperfect market Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “imperfect market” in the English Dictionary

"imperfect market" in Business English

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imperfect marketnoun [C, usually singular]

uk   us   ECONOMICS
a ​market that does not ​work as it should, for ​example, because there is only one ​companyselling a ​product and it can ​control its ​price and ​supply: Even after ​privatization, ​wholesale electricity is an ​imperfectmarket wide ​open to ​manipulation by the large ​generators.
(Definition of imperfect market from the Cambridge Business English Dictionary © Cambridge University Press)
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