A problem of adverse selection occurs in the case of asymmetric information  whenever a better informed market player uses information to take advantage of another player in the market who does not hold that information.  In turn, this adversely affects participation in the market.

An antitrust policy is a law or other government regulation that limits the dominance of large firms and promotes competition in the market.

An asset is ANY resource that produces positive economic value for its owner - its owner being its owner as a result of a past event, most likely a transaction. There are two classes of assets, tangible and intangible, which are themselves made up of subclasses. Of the tangible variety, most commonly you’ll hear about current and fixed assets. Current assets refer to things that can be consumed, exhausted or sold, such as cash, stock, and marketable securities.

If market players have different levels of information about each other’s valuations of the market then the information is asymmetric, or asymmetrically distributed. In classical economic theory, information is assumed to be complete and evenly distributed among market players: each player knows how the other players value the items being traded in the market. This simplifies the analysis of the market because the players’ actions will be certain and predictable. Market outcomes (prices and quantities) can then be easily calculated.