Brad Is Listening to a Speaker Explain How Some New

question 27

Multiple Choice

Brad is listening to a speaker explain how some new computer software works so Brad can use it in his business. According to your textbook, Brad is engaged in __________ listening.

• A) passive
• B) appreciative
• C) active
• D) comprehensive
• E) empathic

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Definitions:

Consumer Surplus

The variance between the actual cost paid by consumers and the maximum amount they're prepared to pay for a good or service.

Market Equilibrium

The point at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a stable market price.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service to prevent market prices from rising above a certain level.

Consumer Surplus

The variation between the price consumers are willing to offer for a product or service and the actual payment made.