The free market can only work properly if the conditions of
perfect competition are met. These conditions include perfect
information, consumer sovereignty, certainty, no barriers to entry,
and no externalities.
Choose two of those conditions, and
write a short answer (between half a page and 1 page) for each of
the following two questions:
In your own words, describe the two conditions of perfect
competition that you chose, and why they matter for supply or
demand to be accurate; and,...