Question

For a perfectly competitive market to function properly, which of the following must buyers and sellers have access to?

Sufficient technology

Uncompetitive products

Economies of scale

Adequate information

Answer 1

Adequate information

Step-by-step explanation:

Both the buyers and sellers must have access to adequate information. Information are both vital for both the buyers and sellers. For the buyer, it influences their decision making and buying choice. For the seller, it helps them to know the trending buyer need. Hence, for a perfectly competitive market to function well, the buyer and seller must have access to adequate information.