Sudbury schools do not use formal grade levels or educational stages. Instead, students ages 4 through 18 are intermingled in a democratic educational system, relying on a series of certifications to use equipment that may require specialized knowledge and/or safety procedures.
Freebase(0.00 / 0 votes)Rate this definition: Monopolistic competition. Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another and hence are not perfect substitutes. In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms. In the presence of coercive government, monopolistic competition will fall into government-granted monopoly.
The existence of such perfect markets are quite rare in the real world, and the perfectly competitive marketplace is a formation of economic theory to help better understand other forms of market competition such as monopolistic and oligopolistic.erfect competition explains an economic theory of a marketplace which does not happen to exist in reality. Summary: Perfect Competition vs Monopolistic Competition. 1  Perfect and monopolistic competitions are both forms of market situations that describe the levels of competition within a market structure.