If The New York Stock Exchange is considered a good market what isn't?

Question

What markets just don't work?
I need 3 examples of "good" (highly functioning) markets and 3 examples of "bad" (not smooth running) markets.

Answer 1

Markets for most metals, commodities, and currency are efficient in the sense of matching buyers and sellers, although some have monopoly power and subsidies on the production levels which prevent them from producing economically optimum results.
Market for highly differentiated products do not operate smoothly. Real estate, art, designer clothing would be examples.