When one person has more or better information than the other is an example of
A) Unequal bargaining power
B) Unjust enrichment
C) Information asymmetry
D) Procedural defect

Question

Quizplus · Accepted Answer

Information asymmetry occurs when one party in a transaction has more or superior information compared to another. This concept is particularly relevant in markets where the seller knows more about the product than the buyer, potentially leading to an imbalance in the transaction.

When One Person Has More or Better Information Than the Other