The following paragraph is from an article (The gene is out of the bottle; DNA and insurance The Economist; London Vol. 424, Iss. 9052, (Aug 5, 2017): 62.)

"Once used only for medical reasons, basic predictive genetic tests can now be ordered online for a few hundred dollars. One company, 23andMe, in California, has collected some 4,000 litres of sputum since 2007, enlightening 2m people on their ancestry, health risks and what they may pass on to offspring. In April it received regulatory approval to screen for risk factors connected to ten diseases and genetic conditions, including late-onset Alzheimer's and Parkinson's. The ruling could open the floodgates for others to sell direct to consumers."

Required:

a) Define two information asymmetry. (4 marks)

b) IF a genetic test could tell whether a person is at increased risk of getting cancer or Alzheimer's, as such tests become more accessible, more and more people are taking the test. If the insurers have no equal access to the results, what kind of information asymmetry it will cause? (2 marks)