The Five Basic Steps of Milling in Order Are

question 23

Multiple Choice

The five basic steps of milling in order are

• A) breaking, classifying, purifying, reducing, and sifting.
• B) breaking, purifying, reducing, sifting, and classifying.
• C) purifying, breaking, sifting, reducing, and classifying.
• D) reducing, purifying, classifying, breaking, and sifting.
• E) classifying, reducing, breaking, sifting, and purifying.

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Definitions:

Producer Surplus

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

Tax

A mandatory monetary payment or different kind of tax levied on taxpayers by government entities to support government expenses and various public services.

Consumer Surplus

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

Producer Surplus

The discrepancy between the price at which producers are inclined to sell a product and the actual price they get, frequently viewed as an indicator of the well-being of producers.