imperfect market

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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

References in periodicals archive ?
With the CO2 Toolbar, we've made it easy for computer users to significantly reduce -- and track -- their computer's energy consumption helping the environment," said Tom McGovern, CEO of Perfect Market.
It is usually defined as the price a willing seller will sell to a willing buyer when there is a perfect market of several sellers and several buyers.
Bill Anderson, deputy general secretary of the city's National Union of Teachers branch, said: "Mr Hill is putting his idea of a perfect market, but he may not realise we are dealing with people and not tins of beans.
The result should be the perfect market, but in the case of Asian Americans, reaching that market is not as easy as it may appear.
While undertaking market research Tom's findings suggested the thriving sports culture which exists in the region's universities would be the perfect market for him to target.
Belfast is a perfect market for Malmaison,' explained Robert B Cook, managing director of Malmaison.
No one can be expected to have perfect market information.
A perfect market for anti-depressants, Montagne says, would be strife-ridden, demoralized country with lots of people who are depressed about their future.
When the showroom opens, the dealer expects to sell about 40 Hummers a month as demographic studies indicate that Valencia is the perfect market for the luxury vehicle.
In his new book, The Perfect Store: Inside eBay, Cohen reports that the online auction service began as an exercise in economic theory, a real-world attempt at forming that most basic of microeconomic precepts, the perfect market.
The central question addressed in this paper is Is the Perfect Market Sustainable?