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Meera

I need examples of purely competitive market?

Globally Interested:

Perhaps the closest thing to a perfectly competitive market would be a large auction of identical goods with all potential buyers and sellers present. A stock exchange resembles this but only as an approximation.

eBay auctions can be often be seen as perfectly competitive. There are very low barriers to entry; however the seller and buyer must have some knowledge of computers and the internet. There are many sellers of common products and many potential buyers.

C3po5:

fast food, video chains, hitmen.

Hunta:

Hitmen. LOL Do they do tax returns?

Bunny:

In reality there is no such thing as a purely competitive market, at least according to the text book definition. With that said, the closest thing I can think of is the market for gasoline (not oil). There are numerous gas stations all selling nearly the identical product. Prices are very similar in the same geographic area but more importantly they are price takers and not price makers. This last point is the most important component of a competitive market.

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