释义 |
imperfect market Translationsimperfect market
Imperfect marketEconomic environment in which the costs of labor and other resources used for production encourage firms to use substitute inputs that are less costly.Imperfect Market1. 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. |