agriculture markets Most agricultural markets are ’perfectly competitive,’ meaning (ideally) that a homogeneous product is produced by and for many sellers and buyers, who are well informed about prices. The market is characterized by free entry and exit, with producers obligated to be price takers. The large number of sellers creates a situation where one firm does not have the power to influence total supply to an extent that is significant enough to allow the individual to effect changes in price level. In this situation, the intersection of supply and demand determines a market price. On an abstract level, this model makes sense, but understanding exactly how agricultural products get from a farmer’s combine into the supply curve is a more complicated. Mansoura, Egypt
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