<p>I don't think there is a standard term for what you'd want to refer to. I'd consider the following good candidates though: </p>

<ul>
<li>Near-perfect / almost-perfect / close-to-perfect / epsilon-perfect competition (the last of course comes from the notion of <a href="https://en.wikipedia.org/wiki/Epsilon-equilibrium" rel="nofollow noreferrer">epsilon-equilibrium</a> in game theory) </li>
<li>Markets with low concentration, or lowly / sparsely concentrated markets (based on the empirical measure of <a href="https://en.wikipedia.org/wiki/Concentration_ratio#Concentration_levels" rel="nofollow noreferrer">concentration ratio</a>)</li>
</ul>

CC BY-SA 4.0
2019-02-27T05:41:19.200Z
2019-02-27T05:41:19.200Z
Herr K.
<p>I want to explain perfect competition to students using a few practical examples without going into much of the theory. But I want it to be theoretically accurate and I don't want to claim that those are examples of 'perfect competition'. I am thinking about calling it 'near perfect competition', but I wonder if there is a conventional term for a market that is close to perfect competition. <a href="https://en.wikipedia.org/wiki/Perfect_competition" rel="noreferrer">This wikipedia article</a> mentions 'close-to-perfect competition' but I'm not sure if that's a conventional term.</p>

CC BY-SA 4.0
2019-02-27T11:47:48.950Z
Is "efficient" not strong enough for what you're looking for?
Joe Lee-Moyet
<competition><definition>
What would you call a real market that is close to perfect competition?
Arthur Tarasov
# What would you call a real market that is close to perfect competition?

(Asked by: username_0 on 2019-02-27)

I want to explain perfect competition to students using a few practical examples without going into much of the theory. But I want it to be theoretically accurate and I don't want to claim that those are examples of 'perfect competition'. I am thinking about calling it 'near perfect competition', but I wonder if there is a conventional term for a market that is close to perfect competition. [This wikipedia article](https://en.wikipedia.org/wiki/Perfect_competition) mentions 'close-to-perfect competition' but I'm not sure if that's a conventional term.

**Tags:** competition, definition

> **Comments:**
> **username_1**: Is "efficient" not strong enough for what you're looking for?  

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## 1 answers

### Answer by username_2 on 2019-02-27. Score: 3 | Accepted answer

I don't think there is a standard term for what you'd want to refer to. I'd consider the following good candidates though:

* Near-perfect / almost-perfect / close-to-perfect / epsilon-perfect competition (the last of course comes from the notion of [epsilon-equilibrium](https://en.wikipedia.org/wiki/Epsilon-equilibrium) in game theory)
* Markets with low concentration, or lowly / sparsely concentrated markets (based on the empirical measure of [concentration ratio](https://en.wikipedia.org/wiki/Concentration_ratio#Concentration_levels))


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