Examlex
An early evening television program that discussed the use of "carbon offsets" to reduce the impact on global warming asked its viewers to phone in or e-mail a vote for or against this approach. The next day
The television station reported the vote was 70% in favour of this approach. This type of sampling is
Called:
Consumer Surplus
The discrepancy in the total charges consumers are prepared and economically able to bear for a good or service, and the charges they actually bear.
Willingness to Pay
The maximum amount an individual is prepared to spend for a good or service, reflecting the value they assign to it.
Consumer Surplus
The difference as marked by what consumers are prepared to spend on a good or service versus the actual payment made.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.
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