Perfect market

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.