You Went to a Craft Show and Paid an Exorbitant

question 73

Multiple Choice

You went to a craft show and paid an exorbitant price for an embroidered shawl that the seller said was hand embroidered and had been imported from India.Several months later,you found a similar shawl in another showroom at a much lower price and realized that the one you bought was not imported.This is an example of a market with ________.

• A) asymmetric information
• B) a positive externality
• C) a negative externality
• D) the free-rider problem

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Definitions:

STIs

Infections transmitted sexually, conditions that are spread from person to person via sexual intercourse.

Protective Value

The degree to which something is capable of safeguarding from harm or adverse conditions.

Transmission

The act or process of transferring data or power from one point to another.

Paraphilia

Paraphilia involves sexual interests, fantasies, urges, or behaviors that are intense and focused on atypical and extreme subjects.