The _____ of an Object Is an Adjective That Describes

question 23

Multiple Choice

The _____ of an object is an adjective that describes the object's current status.

• A) polymorphism
• B) encapsulation
• C) resemblance
• D) state

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually do pay.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the economic benefit to consumers.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.