Why Do Information Problems Constitute Market Failures

question 37

Essay

Why do information problems constitute market failures?

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Definitions:

Neurotransmitters

Chemical messengers that transmit signals across a chemical synapse, from one neuron (nerve cell) to another 'target' neuron, muscle cell, or gland cell.

Neurons

Cells in the nervous system specialized for the transmission of information via chemical and electrical signals.

Occipital

Pertaining to the occipital lobe, a region of the brain located at the back of the head that is responsible for processing visual information.

Cerebral Cortex

The brain's outermost layer responsible for higher-order brain functions such as sensory perception, cognition, and motor control.