Resources would be divided fairly and equally among enterprises in a market with perfect competition, Imperfect competition arises when one of the conditions for fully competitive markets is not satisfied.
The government has no control over the participants in any given industry because the entry and exit in perfect market competition are not regulated.
In terms of their bottom lines, businesses often generate just enough profit to continue operating. No company is more successful than the next. That's because market dynamics force them to compete on an even playing field, eliminating any potential advantages one may have over another.
In reality, there is imperfect competition in every market. Customers might not be completely educated about the items and pricing, there is competition for market share, there are considerable barriers to entry, and there are prices that aren't established by supply and demand.
Imperfect competition can be seen in market structures including monopolies, oligopolies, monopolistic competition, monopsonies, and oligopsony.
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