​A Car Mechanic Knowing More About What's Wrong with Your

question 265

Multiple Choice

​A car mechanic knowing more about what's wrong with your vehicle than you do is best explained by which of the following concepts:

• A)​Asymmetric information
• B)​Adverse selection
• C)​Availability bias
• D)​Bounded rationality

---

Definitions:

Scientific Method

A systematic process for carrying out research and experimentation, involving observation, hypothesis formulation, experimentation, and conclusion.

Taxonomy

Naming and classifying species in a systematic way.

Differentiation

The process by which unspecialized cells become specialized into one of the many cell types that make up an organism.