Usually means: Many sellers, free entry, competition.
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We found 3 dictionaries that define the word competitive market:

General (2 matching dictionaries)
  1. Competitive Market, Competitive market: Wikipedia, the Free Encyclopedia
  2. competitive market: Wiktionary

Business (1 matching dictionary)
  1. Competitive market: Financial dictionary

Definitions from Wiktionary (competitive market)

noun:  (economics) A market in which no single firm can influence the price of a good or service due to the competitive nature of other firms in the market.

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