When one party to a transaction has more information about the characteristics of the good or service to be trade than does the other party,economists say that information is:
A) uneven.
B) asymmetric.
C) imperfect.
D) disequilibriated.

Question

Quizplus · Accepted Answer

Asymmetric information refers to a situation where one party has more information than the other. Uneven information and disequilibriated information are not commonly used terms in economics. Imperfect information refers to a more general situation where information is not complete or accurate, but it does not necessarily imply an asymmetry between parties.

When One Party to a Transaction Has More Information About