The term that is used to refer to a situation in which one party to an economic transaction has less information than the other party isa. information disparity.b. moral hazard.…

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Rudy Spano · Answer 1 · 2020-07-15T02:26:47+0000

Answer: The correct answer is choice c.

Explanation: Asymmetric information is the term that is used to refer to a situation in which on part to an economic transaction has less information than the other party. This term is also known as information failure.

The term that is used to refer to a situation in which one party to an economic transaction has less information than the other party isa. information disparity.b. moral hazard.…

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