Characteristics of perfect market in marketing?
There are five characteristics of perfect market.
1 A huge number of buyers and sellers of the specific commodity, no one ( either buyer or seller) could effect the price by individual action.
2 Units of the commodities being buy and sell must be equal in standard.
3 Seller and buyer must be fully aware of the market.
4 Inputs of the commodity must be completely mobile.
5 There must be no ban on the entry of new firms or exit of the old firms.
( Javed Awan. Virtual University of Pakistan )
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