Select the Term That Is Spelled Correctly and Give Its

question 74

Short Answer

Select the term that is spelled correctly and give its meaning.
-A. cilliary body B. ciliary body
A or B: _____ meaning: __________

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to market price.

Consumer Surplus

The contrast between the expected payment by consumers for a good or service and the actual price paid.

Market Supply

The total quantity of a good or service that producers are willing and able to sell at various prices during a given time period.

Market Demand

is the total amount of a product or service that consumers in a market are willing and able to purchase at different prices, during a certain time period.