Imperfect competition is a competitive market situation where there are many sellers, but they are selling dissimilar goods. There are four types of imperfect markets, one is a monopoly, an oligopoly, a monopolistic competition, and a monopsony.

Imperfect competition is viewed by economists as undesirable because it is thought it places unnecessary and unwelcome constraints on the natural economic forces. An example of imperfect competition is a monopoly.

Imperfect competition is viewed by economists as undesirable because it is thought it places unnecessary and unwelcome constraints on the natural economic forces. An example of imperfect competition is a monopoly.

Economists regard imperfect competition because it allows firms to be less efficient producers.

In imperfect competition the producer is the price maker. Whereas in perfect the producer is the price taker meaning there are many producers and no one can influence the price.