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Give 3 examples of industries that are most likely perfectly competitive. What characteristics of these markets...

Give 3 examples of industries that are most likely perfectly competitive. What characteristics of these markets make you think that these industries are perfectly competitive?

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Although perfect competition does not exist in the real-world scenario the industries closest in characteristics to the market structure of perfect competition are; Stock exchange which is an approximation where there is a large number of potential buyers and seller of identical goods. Horse betting is another example where consumers would observe who is offering the best odds and the bookies are price takers also the product offered is homogeneous. Free software is also another example of a perfect competition where anyone is free and leave the market at no cost. It will be brought and sold at the price determined by the market.

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