Information Provision

What is information Provision

When the government gives information to consumers to change their behaviour.

Name one costs and evaluation of Information Provision (to do with money)

Money needs to be spent on leaflets, advertising, advisors etc. This creates an opportunity cost.

This depends on whether they can use free ways of advertising. e.g social media

Name one cost of Information Provision and evaluation (too do with consumers)

Consumers may ignore the information shown

Depends on the quality of information, some may be for effective than others

Name one cost and evaluation about Information Provision (to do with producers)

Indirectly could have a negative impact on the revenue of producers in a certain market e.g alcohol markets

Depends on the business, business may be really big and still gain a lot of revenue

Name one benefit and evaluation of Information Provision (to do with positive externalities)

consumption a harmful g/s falls consumption a beneficial g/s rises This benefits the 3rd party

This depends on whether consumers listen to information

Name one benefit and evaluation of Information Provision (to do with consumers)

Consumers feel their individual freedom is still protected compared to regulations which is mandatory.

This depends on whether too much information makes consumers feel overwhelmed