Graph 9-4 This Graph Refers to the Market for Kiwifruit in New

question 75

Multiple Choice

Graph 9-4
This graph refers to the market for kiwifruit in New Zealand.
-According to Graph 9-4, the change in total surplus in New Zealand because of the trade in kiwifruit is:

• A)a
• B)b
• C)c

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Definitions:

Cheques Clear

Refers to the process by which a bank verifies that the funds available in the account of the individual who wrote the cheque are sufficient to cover the amount, and subsequently moves those funds to the account of the cheque recipient.

Incremental Bad Debt

Additional losses expected from non-payment or default by borrowers beyond what was originally anticipated.

Bad Debt Losses

Financial losses a company incurs when it cannot collect payment from a borrower or customer.

Decline

A decrease in the value or quantity of something.