The Environmental Footprint of an Average Person in a High-Income

question 51

Multiple Choice

The environmental footprint of an average person in a high-income country is ______ than that of someone in a low-income country.

• A)much smaller
• B)slightly smaller
• C)slightly larger
• D)much larger

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Definitions:

Surplus Amount

The excess quantity of a product that occurs when the supply of the product exceeds the demand for it at a given price.

Consumer Surplus

A measure of the difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.

Price

The price one must pay to obtain a service or product.

Surplus Amount

The excess of revenues over expenditures in a budget, or inventory beyond what is currently needed.