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The final step in the research process is
Adverse Selection
A situation in insurance and other markets where buyers and sellers have asymmetric information, leading to transactions where one party might have higher risks than the other perceives.
Used Cars
Pre-owned vehicles that have been previously registered and utilized by one or more retail owners.
Lemon Laws
Statutes designed to protect consumers from purchasing defective vehicles that fail to meet quality and performance standards.
Negative Externalities
Unintended and adverse side effects suffered by third parties or the environment as a result of economic activities.
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