What can be the features of a perfectly competitive market

[Stardom22]

Large number of buyers and sellers
The buyers and the sellers have perfect knowledge of the market conditions
No government interference in the market

 

[cherry123]

I like the fact that's no government interference that will bring harsh policies to the market

 

[Bisolami]

Large number of buyers and sellers
The buyers and the sellers have perfect knowledge of the market conditions
No government interference in the market

You are very right about the major things that makes market competitive and it will surely involve the buyers and the sellers and also the market price

 

[Golden9]

Large number of buyers and sellers
The buyers and the sellers have perfect knowledge of the market conditions
No government interference in the market

This can't exist though, no matter how hard we try.
Some niches don't have a lot of customers, and in most countries, government only have policies which suit their selfish interests and not that of the people.

 

[cherry123]

This can't exist though, no matter how hard we try.
Some niches don't have a lot of customers, and in most countries, government only have policies which suit their selfish interests and not that of the people.

Government selfishness sometimes is really appalling. Sometimes it like they don't want the masses to survive.

 

[Enxx]

When there lots of good quality product, the market can be competitive

 

[cherry123]

Same with the price when it is competitive. Then the market will boom

 

[flower]

In a perfect competitive market, goods will be reasonably priced and qualities of good will be enhanced.

 

[hastral45]

Large number of buyers and sellers
The buyers and the sellers have perfect knowledge of the market conditions
No government interference in the market

Perfectly competitive market is only possible in advanced countries. In fact, we don't have perfect market in Nigeria. Our market are determined by the power of supply and demand.

 

[Niyi Briggs]

The feature I like about it is that there is free entry and free exit. No one would stop you from running a business. When you start and feel the heat is too much ,you are free to run away.

 

[Reedex]

A perfectly competitive market will be characterized with competitive prices.

 

[Shavkat]

Personally speaking, a healthy competitive is to be able to compete with the other companies in a fair and square way. However, it is not possible because some of them are doing in dirty ways.

 

[Niyi Briggs]

The one thing I really love about perfect competition is that market forces determine the prices and firms are just price takers. Perfect competition has hindered the exploitative tendencies of some entrepreneurs.

 

[Bisolami]

The one thing I really love about perfect competition is that market forces determine the prices and firms are just price takers. Perfect competition has hindered the exploitative tendencies of some entrepreneurs.

That is true which means that it is not just one person who will be determining the price because the person may put the price to favour him which is not nice

 

[Passiveearner]

Perfect competition involves healthy competition. This is one of the main aspects of competition in any kind of market in the first place as everyone get the chance to market and promote their products in the first place.

 

[Bisolami]

Perfect competition involves healthy competition. This is one of the main aspects of competition in any kind of market in the first place as everyone get the chance to market and promote their products in the first place.

A competitive market will keep everyone on their toes. They will do very well because they will want to make more sales and have more customers so they will always want to work hard