Concession Making

question 56

Multiple Choice

Concession making

• A) indicates an acknowledgment of the other party.
• B) shows a movement toward the other's position.
• C) implies a recognition of the legitimacy of the other party's position.
• D) recognizes the other party's position.
• E) All of the above are characteristics of concession making.

---

Definitions:

Price Sellers Receive

The amount of money that producers get from selling one unit of a good or service, after considering all costs and expenses.

Consumer Surplus

The dissimilarity in what consumers intend to pay for a good or service versus what they actually spend.

Producer Surplus

The disparity between the minimum amount sellers are ready to take for a product or service and the actual price they get in the market.

Price Received

The amount of money paid to a seller or producer for a good or service, excluding any taxes, fees, or additional charges.