High Profits Mean Outputs of ______ Value Are Being Created

question 142

Multiple Choice

High profits mean outputs of ______ value are being created from inputs of ______ value.

• A) low; low
• B) high; high
• C) low; high
• D) high; low

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Definitions:

Indonesia

A Southeast Asian country made up of thousands of volcanic islands, known for its beaches, volcanoes, Komodo dragons, and jungles sheltering elephants, orangutans, and tigers.

Microchip

A small semiconductor device containing electrical circuits, used in a wide variety of electronic equipment and devices.

Trade

The action of buying, selling, or exchanging goods and services between people, firms, or countries.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.