(economics) a market situation in which there exists a homogeneous product, freedom of entry, and a large number of buyers and sellers none of whom individually can affect price
noun 1. .
noun 1. See under (def 2). [kuh n-trish-uh n] /kənˈtrɪʃ ən/ noun 1. sincere penitence or remorse. 2. Theology. sorrow for and detestation of sin with a true purpose of amendment, arising from a love of God for His own perfections (perfect contrition) or from some inferior motive, as fear of divine punishment (imperfect contrition) […]
- Perfect crime
noun a criminal act so well planned and executed that it cannot be detected or solved
[adjective, noun pur-fikt; verb per-fekt] /adjective, noun ˈpɜr fɪkt; verb pərˈfɛkt/ adjective 1. conforming absolutely to the description or definition of an ideal type: a perfect sphere; a perfect gentleman. 2. excellent or complete beyond practical or theoretical improvement: There is no perfect legal code. The proportions of this temple are almost perfect. 3. exactly […]