The correct answer is option 4, wheat farming. In a perfectly competitive market, there are many buyers and sellers who have no control over the price of the product. This means that individual firms cannot influence the market price and are price takers. In wheat farming, there are numerous farmers who grow and sell wheat, and no single farmer has the ability to set the price for wheat. Additionally, wheat is a standardized product, meaning that there is little differentiation between the wheat produced by different farmers. Both of these characteristics align with the conditions of a perfectly competitive market. Options 1, 2, and 3 (automobile, cigarette, and newspaper industries) do not closely approximate the perfectly competitive model because these industries often have a limited number of sellers, potential product differentiation, and the ability to influence prices.