Asymmetric Information
Refers to situation where buyers and sellers don't have the same access to information.
In this section, you should just focus on understanding the concept of asymmetric information. The effects it has on markets and the responses stakeholders develop to prevent it will be explored in the next section.
Adverse selection
When one of the sides has more knowledge about the quality of the product sold than the other.
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Paywall
(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.
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