Perfectly competitive market

Perfectly competitive market is exists when there is a homogeneous product with buying prices equal to selling prices and no individual buyers or sellers can affect those prices by their own actions.

Definitions

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Perfectly competitive market. Exists when there is a homogeneous product with buying prices equal to selling prices and no individual buyers or sellers can affect those prices by their own actions.