Consumers need information to make good choices.Which of the following best describes a role of information in an economy?
A) It is abundantly available and therefore NOT as valuable
B) It is scarce and therefore valuable.
C) It is NOT easily available and therefore NOT valuable
D) It is abundantly available and therefore valuable.

Question

Consumers need information to make good choices.Which of the following best describes a role of information in an economy?  
A) It is abundantly available and therefore NOT as valuable 
B) It is scarce and therefore valuable. 
C) It is NOT easily available and therefore NOT valuable 
D) It is abundantly available and therefore valuable.

Quizplus · Accepted Answer

Information is a valuable resource when it is scarce as it helps consumers make informed decisions. If information is too abundant, it can be overwhelming and difficult to differentiate between what is important and what is not. Therefore, the value of information lies in its scarcity.

Consumers Need Information to Make Good Choices