CEVAP:

• The good or service being exchanged is the same across all sellers; the quality or the characteristics of it do not change from one seller to another.

• There is a high number of potential buyers and sellers of this good; and all act independently from each other

• Entry of new sellers into the market is not restricted by any means.

• Buyers and sellers readily and freely have access to information with regards to the prices at which other buyers and sellers are exchanging the good.