loculation. Definitions: 1. A loculate region in an organ or tissue, or a loculate structure formed between surfaces of organs, mucous or serous membranes, and so on. 2. The process that results in the formation of a loculus or loculi. The definition information for loculation is provided by Stedman's.
Competitive markets, sometimes referred to as perfectly competitive markets (or perfect competition), have three specific features. The first feature is that a competitive market consists of a large number of buyers and sellers that are small relative to the size of the overall market.
Advertisements: It is an important market category where the individual firms exercise their control over the price to a smaller or larger degree. Prof. Chamberlin called it âMonopolistic competitionâ. Under imperfect competition, there are large number of buyers and sellers. Each seller can follow its own price-output policy. Each producer produces the differentiated product, which are close substitutes of each other.