A perfect market is market that is structured to have no anomalies that would otherwise interfere with the best prices being obtained. Examples of this perfect market structure are:
- A large number of buyers
- A large number of sellers
- Products are homogeneous
- Information is freely available to everyone in the market
- There is no collusion between the market participants
There are few perfect markets; those selling commodities, such as agricultural products, represent the closest approximation of a perfect market.