The Difference Between the Price Consumer's Pay and the Amount

question 32

Multiple Choice

The difference between the price consumer's pay and the amount they would actually have been willing to pay to obtain the benefits is known as ____________.

• A) net value
• B) gross value
• C) consumer surplus
• D) moderate value
• E) consumer demand

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Definitions:

Investment

The allocation of resources, such as time, money, or effort, in expectation of future benefits or returns.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used, but not yet paid for.

Payables

Amounts owed by a company to suppliers or creditors for goods and services received.

Inventory

The raw materials, work-in-progress products, and completely finished goods that are considered to be the portion of a business's assets that is ready or will be ready for sale.