Introduction
In simple terms, imperfect competition can be referred to as a type of market structure that does not operate in conformity with the laid rules of perfect competition. In imperfect competition, there are so many barriers that prevent fair competition among the market players and also the accessibility to goods by users is limited and not all transparent. Limitations and barriers to such a market may include: prices being influenced by one or a few suppliers, barriers to the entry and exit of a market are quite significant and information about products and their pricing is very limited. Examples ...
