Of the following,the best example of private information is when
A) Michael knows the price of a gallon of milk at the minimart but Michelle doesn't know.
B) you are selling a used car and you know your used car's defects but a potential buyer cannot find out about them until after buying.
C) you are selling a used car and you do not know your used car's defects
D) you don't know the quality of a used car and must hire a trained mechanic who tells you all its defects.
E) you pay the owner of a used car a little extra and she lets you know all of the car's defects.

Question

Quizplus · Accepted Answer

Private information refers to information that is known by one party but not by another. In the case of selling a used car, the seller knowing the defects of the car while the potential buyer does not know about them until after buying is a good example of private information.

Of the Following,the Best Example of Private Information Is When