An imperfect competitor is a consumer or supplier who has the ability to control the price that it pays or is paid. This ability is usually tied to being large enough to constitute a large percentage of the demand or supply of a given good, thereby enjoying monopoly or monopsony characteristics.
An imperfect market is a market structure where individual producers and/or consumers have the power to influence the prices and quantities of goods and services. Unlike in a perfectly competitive market, where no participant can affect the market outcome, imperfect markets are characterized by various market failures such as monopolies, oligopolies, and other forms of market power.
A monopolist is a firm or individual entrepreneur that is the sole producer of a good and represents the entire market supply of that good. This exclusive control allows the monopolist to influence the price and quantity of the product in the market.
A market situation where there is only a single consumer of a good or service produced, giving that consumer substantial control over prices and terms.
