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.
Definition: Competitive Bids. Competitive bidding is a process by which procurement of goods and services takes place in different sectors as well as governmental organizations. In this transparent procurement method, bids are invited from competing contractors, vendors or suppliers by advertising openly the specifications, scope and terms and conditions of the contract proposed as well as the criteria of evaluation of bids.