A benefit of a purely competitive market is a) equal product information for buyers and sellers b) government sets the product prices to be competitive c) sellers may set their own prices d) sellers use advertising to attract buyers

Question

Business

Charlie Mccormick

18 October, 01:16

A benefit of a purely competitive market is a) equal product information for buyers and sellers b) government sets the product prices to be competitive c) sellers may set their own prices d) sellers use advertising to attract buyers

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Answers (1)

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Essence Brown · Answer 1

a) equal product information for buyers and sellers

Explanation:

A competitive market refers to the system of the market where many producers are present to offer the goods and services to the consumers. The producers compete with each other and any producer is not inclined to possess a dictatorship control over the market. One of the benefits of the purely competitive market is that the information related to the product is equally distributed to the buyers and the sellers.