An Example of a Flow Would Be the

question 14

Multiple Choice

An example of a flow would be the

• A)rate at which the cold water comes out of the tap.
• B)amount of water in a bathtub.
• C)rate at which water goes down the drain.
• D)percent of pollutants in tap water.
• E)pressure of water in a pipe.

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Definitions:

Consumer Surplus

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

Producer Surplus

The disparity between what sellers are prepared to accept for a product or service and the amount they actually get.

Antitrust Laws

Legislation enacted by the government to prevent monopolies and to foster competition in the marketplace.

Illegal

Activities or actions that are forbidden by law or statute, punishable by fines, imprisonment, or other sanctions.