When It's Not Clear How to Translate Available Information into Something

question 1

Multiple Choice

When it's not clear how to translate available information into something personally meaningful,it's:

• A) more likely you'll make a mistake in your choice.
• B) less likely you'll make a mistake, given the amount of information.
• C) more likely you'll invest more time in making your choice.
• D) less likely the choice will have a big impact on you.

---

Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually pay.

Producer Surplus

The disparity between the minimum amount producers are prepared to take for a product or service and the higher amount they end up getting.

Blockade

An act of sealing off a place to prevent goods or people from entering or leaving, typically implemented as a form of economic or military pressure.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive.