Adam Lallana arrived from Southampton following the England squad's return from their ill-fated World Cup campaign, with the former Saints skipper joining for around £25 million.
The talented playmaker scored nine goals and six assists as an upwardly mobile Southampton side finished eighth in the Premier League.
Gerrard played with Lallana during the South American tournament earlier this summer, and is looking forward to seeing his ex-England colleague strutting his stuff at Anfield.
The Reds skipper admits he is less clued up about Markovic, who joined from Benfica for £20 million, but he said that he has seen glimpses of an electric talent.
And Gerrard, who retired from England duty recently, is looking forward to seeing the tandem in action next term.
Speaking to the club's official TV station on their tour of the United States, Gerrard said: “I know Adam a lot better than Lazar, and I know he’s going to be a fantastic player - he’s got balance, he’s got skill but also what the fans may not know, is he's good leader.
“He was captain of Southampton, and he’ll be a really good member of the squad, so I’m really pleased with that one.
"Lazar, I’ve obviously seen clips on YouTube like every other Liverpool fan. He looks quick, pacy and he’ll get the fans on the edge of their seat. We’ll see with time.
"I’ve got big trust in Brendan [Rodgers] and I’m sure who he brings in will be up to scratch.”
Markovic and Lallana are just two of six new signings this summer, and the Reds have splashed out around £90 million so far already - the most of any team in England.
Belgium international Divock Origi, who will stay with Lille for the current campaign, was signed for around £10 million on Tuesday, while Dejan Lovren was brought in last week for £20 million - a club record for a defender.
Rickie Lambert became the first signing of the summer when he joined from Southampton for £4 million and Emre Can signed from Bayer Leverkusen.
Despite the big-money spending, the Reds are expected to continue their strengthening following the £75 million sale of Luis Suarez to Barcelona earlier this month.