Examlex
Using a pencil to draw a smiley face on a sheet of paper is an example of a ____.
Adverse Selection Problem
A situation in markets where buyers and sellers have asymmetric information, leading to high-quality goods or services being ousted by lower-quality ones.
Buyers
Individuals or entities that purchase goods or services for personal use or for resale.
Sellers
Individuals or entities engaged in the act of selling or providing goods and services to consumers or other businesses.
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