Final answer:
The factor not characteristic of a market in pure competition is differentiated products. Perfect competition entails identical products, many buyers and sellers, informed participants, and free market entry and exit. Differentiated products signify monopolistic competition instead. The correct option is 5)
Step-by-step explanation:
The factor that is NOT characteristic of a market experiencing pure competition from the given options is differentiated products. In a market with pure competition, also known as perfect competition, several key features are present: First, there are many sellers as well as buyers in the market. Second, the products offered by sellers are identical, and not differentiated. Third, all participants are well informed about products. Lastly, there is an ease of entry and exit in the market, meaning firms can enter and leave freely without any significant barriers.
In contrast, differentiated products are characteristic of monopolistic competition, where firms sell products that are distinct from each other in some ways, which can include variations in quality, features, branding or some other attributes that set them apart.