Which Person Is Most Likely Experiencing the Most Rapid Physical

question 133

Multiple Choice

Which person is most likely experiencing the most rapid physical growth?

• A)Boipelo, who is 18 months old
• B)Siya, who is 6 years old
• C)Bandile, who is just reaching puberty
• D)Dumi, who is 19 years old

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Definitions:

Deadweight Loss

An economic inefficiency that arises when the balance for a product or service is either not attained or cannot be attained.

Consumer Surplus

The differential between the overall amount consumers are willing and financially prepared to spend on a good or service, and what they end up spending.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, essentially the extra benefit to producers from selling at the market price.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unobtainable.