Relating to the Economics in Practice on page 362: The smart phone app which allows skiers at a slope to report weather conditions to others could be considered a form of
A) moral hazard.
B) market signaling.
C) asymmetric information.
D) risk-loving.

Question

Quizplus · Accepted Answer

The smart phone app allows skiers to share weather conditions with others, acting as a form of market signaling. This is because it provides valuable information to the market (in this case, other skiers) about the current conditions, helping them make informed decisions.

Relating to the Economics in Practice on Page 362: the Smart