What term is used to refer to conditions when one party has superior information to the other party, creating an imbalance of power, as the better-informed party gains strategic advantage?
A) power asymmetry
B) imbalanced market dynamics
C) asymmetry of information
D) information overload

Question

Quizplus · Accepted Answer

The term used to refer to this condition is asymmetry of information. Power asymmetry (A) refers to a situation where one party has more power than the other, but it doesn't necessarily imply a difference in access to information. Imbalanced market dynamics (B) may refer to a variety of different factors that could impact the functioning of a market, but again it does not necessarily imply a difference in access to information. Information overload (D) refers to a situation where a person is overwhelmed by too much information, but it does not imply an imbalance of power between two parties.

What Term Is Used to Refer to Conditions When One