Consumers need information to make good choices.In the context of this information,which of the following is correct?
A)Advertising is always harmful to consumers.
B)Information is scarce and therefore valuable.
C)Brand names offer no informational content.
D)Acquiring more information is always rational.
E)Marginal analysis does not apply to the acquisition of information.

Question

Quizplus · Accepted Answer

Information is often scarce and, as a result, can be very valuable to consumers in making informed decisions. This scarcity can drive the demand for information, making it a valuable commodity in decision-making processes.

Consumers Need Information to Make Good Choices