monopolistic competition The situation that exists in a market in which there are many sellers and many buyers; sellers attract customers by making themselves somewhat different from others like them. One of four basic competitive market structures. Related Related Articles: All You Could Ever Want to Know About the Subway FootlongWhat We Might Not Know About Big TechWhy McDonald’s Cares About a Speedy Drive-ThruLearn With Elaine: McDonald’s Speedy Drive-ThruAll You Could Want To Know About Chocolate Ann Mills Share This Previous ArticleM1 Next Articleopen market operations December 17, 2020