Which of the Following Is NOT an Example of an Economic

question 19

Multiple Choice

Which of the following is NOT an example of an economic event?

• A) Ship goods
• B) Receive goods
• C) Get employee time
• D) Prepare cash disbursements voucher

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Definitions:

Market Price

The immediate rate at which an asset or service can be traded in a specific trading place.

Producer Surplus

The gap between what sellers are prepared to accept for a product or service and the real amount they end up getting.

Excess Quantity

The situation where the supply of a product exceeds the demand for it at a specific price point, leading to a surplus.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved.