Examlex
The expression "getting the most bang for your buck" is an illustration of the
Consumer Surplus
The discrepancy between the amount consumers are prepared to pay for a product or service and the actual price they pay.
Utility
A measure of satisfaction, usefulness or value that a consumer receives from any good or service.
Utility
In economics, the total satisfaction received from consuming a good or service.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service and what they actually pay.
Q49: Using the above table, what is the
Q64: Are all goods economic goods? Are all
Q121: Which legal claim comes with the most
Q136: The law of increasing additional costs is
Q171: How does an economy represented by a
Q201: An example of an entrepreneur would be<br>A)the
Q205: Refer to the above figure. Which of
Q272: Using indifference curve analysis, an optimum is
Q414: Marginal utility is<br>A)the utility received by the
Q435: An example of an implicit cost is<br>A)payment