Question

In economics , a difference in access to relevant knowledge is called​

Answer 1

Answer:

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Answer 2

It is referred to as information asymmetry.

• It is the economic analysis of key decisions in specific undertakings in which one group possesses additional or more satisfactory information than another.

• It typically produces a power disparity in economic transactions, which can lead to inefficient transactions and, in the worst-case scenario, collapse of the market.

• Extreme preferences, moral risks, and information monopolies are present in this information type.