In economics,a difference in access to relevant knowledge is called a(n)
A)behavioral gap.
B)frontier gap.
C)information asymmetry.
D)access imperfection.

Question

Quizplus · Accepted Answer

Information asymmetry refers to when one party in a transaction has more or better information than the other party. This can lead to imbalances in power and outcomes that benefit one party over the other. In the context of economics, information asymmetry can lead to market failures and inefficiencies.

In Economics,a Difference in Access to Relevant Knowledge Is Called