Expressions That Are Intended to Impress Rather Than Express Are

question 28

Multiple Choice

Expressions that are intended to impress rather than express are known as

• A)cliches.
• B)buzzwords.
• C)trite phrases.
• D)overly exuberant.

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Definitions:

New Equilibrium

The point at which market supply and demand balance each other, and, as a result, prices become stable following a disturbance.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, measured above the supply curve.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, reaching a state of balance where there are no surplus or shortage.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, reflecting gains from trade.