Which one of the following is not a perfectly competitive ma

Which one of the following is not a perfectly competitive market? O A. The world gold market. O B. The world diamond market. O C. The US stock market. 0 D. The U.S. wheat market.

Solution

The correct answer should be B. DIAMOND MARKET.

Diamond market don\'t satisfy some conditions of a perfectly competitive market like

A. There is no large number of buyers and sellers.

B. The diamonds are heterogeneous not homogeneous.

C. Also there is no perfect information about the market.

D. Individual sellers have substantial control over the price.

Hence it can be conclude that diamond market is a perfectly competitive market.