Consumers need information to make good choices.Which of the following is correct regarding this information?
A)Advertising is always harmful to consumers.
B)Information is scarce and therefore valuable.
C)Brand names offer no informational content.
D)Acquiring more information is always rational.
E)Marginal analysis does not apply to the acquisition of information.

Question

Quizplus · Accepted Answer

Information is scarce and therefore valuable because it helps consumers make informed decisions, and its scarcity can increase its importance and value.

Consumers Need Information to Make Good Choices