Asked by

Megan Cramer
on Nov 01, 2024

verifed

Verified

When individuals do not have complete information to judge the quality of the goods they seek to purchase, they are experiencing ______.

A) goal displacement
B) resource dependency
C) information asymmetry
D) consumer misunderstanding

Information Asymmetry

A situation where one party in a transaction has more or better information than the other, leading to an imbalance of power.

Goal Displacement

The phenomenon whereby the primary goal is overshadowed by secondary goals, often leading to a shift in focus or purpose.

Resource Dependency

A theory suggesting that organizations are in constant need of resources from their environment and must manage dependencies and relations with other entities to obtain these resources.

  • Understand the concept of information asymmetry and its impact on market transactions.
verifed

Verified Answer

BJ
Brian Joseph LamigoNov 05, 2024
Final Answer:
Get Full Answer