Final answer:
To combat inadequate buyer information, the government employs inspectors for pump accuracy, establishes weights and measures systems, and enforces laws against misleading advertising. Sellers may offer guarantees and warranties, while individuals can obtain licenses and certifications to ensure quality and competency.
Step-by-step explanation:
To address the issue of inadequate buyer information in markets such as gasoline, the government has taken a variety of steps to ensure that consumers are provided with accurate and reliable information. Among these actions are:
- Employing inspectors to check for the accuracy of pumps, ensuring that consumers get the amount of gasoline they pay for.
- Establishing a system of weights and measures to standardize quantities and prices, making comparisons and purchase decisions clearer and easier for buyers.
- Passing laws against false or misleading advertising, which helps protect consumers from fraudulent claims and promotes trust in the marketplace.
In addition to these government actions, sellers can reassure buyers by providing guarantees, warrantees, and service contracts to assert product quality. Similarly, in the labor market, individuals can reassure potential employers by having relevant occupational licenses and certifications that signal competency.