Which of the following markets comes closest to perfect market?

1.	Which of the following markets comes closest to perfect market?
Answer» Wheat market Wheat market comes CLOSEST to perfect market. A perfectly competitive FIRM is called a price taker, because the pressure of competing firms forces them to ACCEPT the prevailing equilibrium price in the market. When a wheat grower wants to know what the going price of wheat is, he or she has to go to the computer or listen to the radio to CHECK.

Answer»

Wheat market

Wheat market comes CLOSEST to perfect market. A perfectly competitive FIRM is called a price taker, because the pressure of competing firms forces them to ACCEPT the prevailing equilibrium price in the market. When a wheat grower wants to know what the going price of wheat is, he or she has to go to the computer or listen to the radio to CHECK.

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Which of the following markets comes closest to perfect market?

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