imperfect market

Imperfect market

Economic environment in which the costs of labor and other resources used for production encourage firms to use substitute inputs that are less costly.

Imperfect Market

1. See: Market inefficiency.

2. A market where costs are too high, encouraging producers either to stop producing or to find ways to lower costs. For example, if labor costs are too high in an imperfect market, producers have an incentive to lower salaries, lay off employees, or cease operations altogether.

imperfect market

see MONOPOLISTIC COMPETITION.

单词	imperfect market
释义	imperfect market Translations imperfect market Imperfect market Economic environment in which the costs of labor and other resources used for production encourage firms to use substitute inputs that are less costly. Imperfect Market 1. See: Market inefficiency. 2. A market where costs are too high, encouraging producers either to stop producing or to find ways to lower costs. For example, if labor costs are too high in an imperfect market, producers have an incentive to lower salaries, lay off employees, or cease operations altogether. imperfect market see MONOPOLISTIC COMPETITION.
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