A market characterised by many sellers offering identical products to many buyers is:

1. Perfect competition is characterised by many sellers selling identical products to many buyers. 2. Monopolistic competition differs in that products are differentiated rather than identical. 3. Oligopoly has only a few sellers and monopoly only one, so both are ruled out. 4. The answer is perfect competition. _Source: ICAI BoS CA Foundation Paper 4 Business Economics, Ch 4 Unit I "Meaning and Types of Markets", p.4_