All of the following describes conditions necessary for existence of a perfect market EXCEPT
Lack of homogeneity of goods
Perfect knowledge
Large buyers and sellers
Portability of goods
Correct answer is A
Lack of homogeneity of goods is not a characteristics or features of a perfect market. The features/ characteristics are: perfect knowledge about the market, there is free entry and exit, there are large number of buyers and sellers, the goods are portable and homogeneous, there is no preferential treatment etc