Define a Perfect market. Explain any four features of a Perfect market. (2024)

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  • A perfect market is a market situation where there are largenumber of buyers and sellers dealing in a hom*ogeneous product at a price fixedby the market. The goods are sold at uniform price and is fixed by the industryand not by any particular firm.

Its features are:

  • There are very large number of buyers and sellers.
  • The productssold are hom*ogeneous in nature that means they are identical in all respects.
  • Thebuyers and sellers have perfect knowledge of the market.
  • Every seller has thefreedom to enter or exit the industry.

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Define a Perfect market. Explain any four features of a Perfect market. (2024)
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