Any Type of Gesture That Directly Translates into a Word

question 17

Short Answer

Any type of gesture that directly translates into a word or phrase is called a(n)_____________.

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Definitions:

Private Good

A good, or service that is individually consumed and that can be profitably provided by privately owned firms because they can exclude nonpayers from receiving the benefits.

Quantity Demanded

The quantity of a product or service that buyers are prepared and financially able to buy at a certain price.

Efficiency Loss

The loss of economic efficiency that can occur when equilibrium for a good or service is not achieved, leading to potential welfare or opportunity costs.

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.