Answer:
The most important one is large number of buyers and sellers, because it makes firms price takers.
Explanation:
The four main structural components of a perfectly competitive market are as mentioned below:
Out of these four components, the most important is a large number of buyers and sellers in the market. A large number of agents operating in the market gives firms the characteristics of a price taker.
There are so many agents in the market that one agent cannot affect the market through its actions. This is the most distinguishing characteristic of a perfectly competitive market. In all other market forms, firms are price makers.
