The Presence of _____________________ in Transactions Involving Goods Can Easily

question 8

Multiple Choice

The presence of _____________________ in transactions involving goods can easily cause a ______________________ if the result is only a relatively small number of buyer and sellers communicating enough information so that they can agree on a price.

• A) imperfect information; thin market
• B) adverse information; decline in prices or quantities of products sold
• C) adverse selection; decline in prices or quality of purchased goods
• D) imperfect selection; thick market

---

Definitions:

Self-efficacy

is the belief in one's own ability to succeed in specific situations or accomplish a task, significantly influencing how one approaches goals, tasks, and challenges.

Task Performance

The execution or accomplishment of a specific work-related activity or objective, often measured against pre-established standards or criteria.

Verbal Persuasion

The use of oral communication skills to convince or influence others to a particular point of view or action.

Self-efficacy

An individual's belief in their own capacity to execute behaviors necessary to produce specific performance attainments.