A Service Like CARFAX, Which Provides a Used Car Buyer

question 74

True/False

A service like CARFAX, which provides a used car buyer with the complete history of a used car, is profitable because of the problem of asymmetric information.

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Definitions:

Anxiety Disorders

A cluster of psychological disorders marked by intense anxiety and fear, disrupting daily tasks.

Phobias

Irrational and excessive fears of specific objects, situations, or activities.

Amnesia

A condition characterized by memory loss, which can be partial or complete, temporary or permanent.

Compulsion

A psychological condition or mechanism where an individual feels the urgent need to perform certain behaviors or rituals repeatedly.