Goods sold in perfectly competitive markets are generally
ECONOMICS
JAMB 2017
Goods sold in perfectly competitive markets are generally
- A. homogenous
- B. intermediate and final
- C. durable and non-durable
- D. heterogeneous
Correct Answer: A. homogenous
Explanation
The goods bought and sold in a perfect market must be homogeneous. That is, they must be identical. They must be of same size, shape, weight, colour etc. The goods must be the same in the eye of the customer.
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