Why is the housing market not a perfectly competitive market

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22-03-2022
Business

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Why is the housing market not a perfectly competitive market

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579275 579275 · Answer 1 · 2022-03-22T13:08:54+01:00

579275 579275

22-03-2022

Firstly, in a perfectly competitive market, all the products are homogeneous, meaning they are all identical. this is clearly untrue in the housing market as houses are not all the same, they vary in size, location, quality and many other areas.

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ralmm82 ralmm82 · Answer 2 · 2022-03-22T13:10:52+01:00

ralmm82 ralmm82

22-03-2022

Answer:

houses are essential. a need doesn't fall in perfect competition conditions.

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