If Information Is More Costly and Less Easily Available, Then

question 77

Multiple Choice

If information is more costly and less easily available, then usually this

• A) makes markets more efficient.
• B) makes markets less efficient.
• C) decreases profit opportunities.
• D) decreases the opportunity cost of acquiring more information.

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Definitions:

Creative Destruction

A concept in economics that refers to the process through which new innovations lead to the demise of older technologies and economic structures.

Social Destruction

The process by which the social fabric of a community or society is damaged or degraded, often through conflict, neglect, or adverse policies.

Creative Destruction

An economic theory that suggests that old industries or technologies are destroyed and replaced by new ones for economic growth and development.

Disruption

A significant disturbance or interruption to the normal flow or process, often leading to a need for adjustment or a new way of thinking.