The Value Can Be Expressed as ________

question 19

Multiple Choice

The value can be expressed as ________.

• A)1.2 M or Meg
• B)1.2 m or milli
• C)0.00012
• D) or micro

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Definitions:

Deadweight Loss

An economic inefficiency arising when the balance for a product or service fails to be attained or is unattainable.

Tax

A necessary financial assessment or some other type of taxation levied upon a taxpayer by a government entity, intended to fund the expenditure of government and various allotments for public services.

Consumer Surplus

The distance between the total consumers are ready to contribute financially to a good or service and what they eventually pay.

Deadweight Loss

A shortfall in economic optimization that occurs when the balance for a good or service is missed or impossible to hit.