Consumer Surplus Equals the

question 115

Multiple Choice

Consumer surplus equals the

• A)value to buyers minus the amount paid by buyers.
• B)value to buyers minus the cost to sellers.
• C)amount received by sellers minus the cost to sellers.
• D)amount received by sellers minus the amount paid by buyers.

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Definitions:

Situation Analysis

Taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization’s marketing plans and the external forces and trends affecting it.

External Forces

Factors outside of an organization that affect its performance, including economic, political, social, and technological influences.

Marketing Plans

Structured outlines that detail strategies, tactics, targeted activities, and allocations of resources for achieving the marketing goals of a business.

Trends

Patterns or tendencies in data indicating a general direction of change in society, technology, market preferences, or other fields over time.