Edexcel A Level Economics A:复习笔记1.3.4 Information Gaps
Information Gaps
- Information gaps exist in nearly all free markets and distort market outcomes resulting in market failure
- One of the underlying assumptions of a free market is that there is perfect information in the market
- This means that buyers and sellers have exactly the same level of information about the good/service. This is called symmetric information
- In many markets buyers and sellers have different levels of information. This is called asymmetric information. For example, there is asymmetric information in the used car market - sellers know more about the vehicle than the buyers
- Asymmetric information distorts socially optimal prices and quantities in markets resulting in over-provision or under-provision of goods/services
- For example, goods/services with dangerous side effects would be sold in lower quantities if buyers were aware of these effects (consider the VW emissions scandal). Fewer factors of production should be allocated towards producing these
- Similarly, goods/services with extra benefits would be sold in higher quantities if buyers were aware of them. More factors of production should be allocated towards producing these
转载自savemyexams
以上就是关于【Edexcel A Level Economics A:复习笔记1.3.4 Information Gaps】的解答，如需了解学校/赛事/课程动态，可至翰林教育官网获取更多信息。
往期文章阅读推荐：
CAIE A-Level分数线新鲜出炉！三大考试局查分攻略+出分急救指南速览！
翰林AMC8视频课重磅上线！
国际竞赛真题资源免费领取
