A ________ Is a Nongovernmental Organization That Serves Its Customers

question 140

Multiple Choice

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

• A) business firm
• B) subchapter S corporation
• C) service agency
• D) cooperative
• E) nonprofit organization

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service versus how much they actually receive.

Price

The budgeted sum anticipated, imposed, or tendered in indemnity for something.

Surplus Amount

The excess quantity of a product that occurs when the supply of the product exceeds the demand for it at a given price.

Consumer Surplus

A measure of the difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.