Question

Missing markets may exist because... Select one: a. There is symmetric information between buyers and sellers...

Missing markets may exist because...

Select one:

a. There is symmetric information between buyers and sellers

b. Information that can not be verified is involved

c. Consumers do not demand certain products, so there is no need for a market to exist

d. Negative production externalities force producers to abandon production

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Answer #1

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The answer is b. Information that cannot be verified is involved.

(An example of missing market is the case of an externality such as pollution, where decision makers do not have the responsibility for some of the consequences of their actions. Discharges relased make the water polluted, which can hurt people who fish in or get their drinking water from the river downstream. However, the factory owner may have no incentive to consider these issues. But all these problems are not completely informed or taken action against which creates Pareto inefficiency, and leads to missing market.)

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