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Perfect knowledge of events in a perfect market will be made possible by the existence...

Economics
WAEC 2014

Perfect knowledge of events in a perfect market will be made possible by the existence of

  • A. many buyers and sellers
  • B. homogeneous products
  • C. means of communication
  • D. large number of traders
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Correct Answer: Option A
Explanation

In a perfectly competitive market, there are many buyers and many sellers. In fact, the number of buyers and sellers is effectively infinite. This alows for the free flow of information in the market

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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