Trivia ForgePlay free →

What is the economic term for a situation where one party in a transaction has more or better information than the other?

Show answer

Asymmetric information

This can lead to 'adverse selection' or 'moral hazard.' A classic example is the market for used cars, where the seller knows more about the car's flaws than the buyer.

Would you remember this in 6 months?

Trivia Forge uses spaced repetition so facts stick. Free, no signup needed.

Practice Economics questions →

More Economics trivia

See all 215 →