When consumers have less information about a product than do sellers, then this is the situation of

A) asymmetric information.
B) rationality.
C) caveat emptor.
D) a market failure.

Answer: A

Economics

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Refer to the Article Summary. The article discusses income inequality, and for some people this means a more equitable distribution of income is needed in the economy. Would an equitable distribution of income necessarily be the most efficient distribution of income?

A) No, it is impossible to have an economically efficient distribution which is also an equitable distribution. B) No, an economically efficient distribution of income would not necessarily be equitable. C) Yes, in order for the distribution to be equitable, it must also be efficient. D) Yes, equitable and efficient are two different words which have the same definition.

Economics

In Brown v. Board of Education, the Supreme Court ruled that segregated facilities were inherently unequal

Indicate whether the statement is true or false

Economics