3 - Imperfect Knowledge by Kristen Meadows https://padlet.com/krme/umd5aeeoa5fw Who might have a lower level of knowledge than someone else and then get taken advantage of and how? en-us 2016-11-29 00:08:20 UTC 2026-01-16 02:57:57 UTC hello@padlet.com consumers < businesses https://padlet.com/krme/umd5aeeoa5fw/wish/3750275838 consumers may not fully understand the product, js businesses can charge extra prices, or have hidden costs/sell low quality goods

]]> 2026-01-14 03:33:46 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750275838 Second hand car https://padlet.com/krme/umd5aeeoa5fw/wish/3750276755 Used car buyers don’t know the accident histories etc

]]> 2026-01-14 03:34:39 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750276755 second hand goods in general https://padlet.com/krme/umd5aeeoa5fw/wish/3750277337 Sellers can conceal defects or have unsafe things remain in the market

]]> 2026-01-14 03:35:28 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750277337 labour markets https://padlet.com/krme/umd5aeeoa5fw/wish/3750278302 workers do not know — if employers under pay

migrant workers may not know employment rights — socially inefficient labor outcomes

young workers lack info on the career

]]> 2026-01-14 03:36:35 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750278302 Healthcare + cosmetics https://padlet.com/krme/umd5aeeoa5fw/wish/3750278417

  • Doctors recommend unnecessary treatments (as patients lack medical knowledge)

  • Consumers misunderstand health insurance policies

  • Patients do not understand side effects — negative health outcomes

    • ]]>     2026-01-14 03:36:45 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750278417     Influencers https://padlet.com/krme/umd5aeeoa5fw/wish/3750281279

  • false advertisement

  • People believe what they say because they glamorize them

    • ]]>     2026-01-14 03:39:57 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750281279     Consumers https://padlet.com/krme/umd5aeeoa5fw/wish/3750282990 A consumer buys an expensive insurance policy because they do not understand the small print and are unaware that cheaper policies with the same coverage are available, allowing the insurance company to charge a higher price.

    ]]>     2026-01-14 03:41:57 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750282990     https://padlet.com/krme/umd5aeeoa5fw/wish/3750286120 • Exploitation: A dentist could recommend an expensive treatment you don't actually need because you don't know enough to argue.

    ]]>     2026-01-14 03:45:42 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750286120     https://padlet.com/krme/umd5aeeoa5fw/wish/3750288279 Borrowers vs lenders


    - Borrowers may not understand interest rates, fees, or long-term costs.

    - Lenders may use complex terms or hidden charges.

    - Result: debt traps and financial stress.


    ]]>     2026-01-14 03:48:13 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750288279     Sam James Raphael https://padlet.com/krme/umd5aeeoa5fw/wish/3750290032 A tourist buying souvenirs in a foreign country might not know the real prices. The seller could overcharge them because the tourist has less knowledge about local costs.

    ]]>     2026-01-14 03:50:23 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750290032     Insider trading https://padlet.com/krme/umd5aeeoa5fw/wish/3750291513 Insider trading is when some people inside a certain market have more information than others leading to them having an unfair advantage over the market. As they can invest in goods that will go up and generate a large quantity in cash.

    ]]>     2026-01-14 03:52:11 UTC https://padlet.com/krme/umd5aeeoa5fw/wish/3750291513