what is an example of a perfectly competitive market 
the farmer s market was mentioned above as a potential example of a perfectly competitive market this would be the case if a few conditions were met the many stalls at the farmer s market sold identical or nearly identical products such as fresh produce shoppers could set the prices they were willing to pay all transactions could be made without additional fees all parties had full information about prices and the utility of products sold and new vendors could enter the market without any obstacle in reality most farmer s markets don t meet these conditions a market may limit the number of participating vendors for instance or vendors may vary what products they offer however such markets can closely approximate perfect competition under specific circumstances 