In classical economics,both sides of a transaction (buyer and seller)are assumed to have __________.

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In classical economics, both sides of a transaction are assumed to have knowledge about the good or service they are buying or selling. This assumption is known as the "perfect information" assumption, which means that buyers and sellers have access to all information related to the product or service, including its price, quality, and availability. This assumption is important because it helps to ensure that markets operate efficiently, as buyers and sellers are able to make informed decisions about what to buy, how much to pay, and where to buy it.

In Classical Economics,both Sides of a Transaction (Buyer and Seller)are