You Can Create Your Own Categories and Select One of ____

question 68

Multiple Choice

You can create your own categories and select one of ____ colors to associate with them.

• A)14
• B)15
• C)20
• D)25

---

Definitions:

Price Floor

A government-imposed minimum price that can be charged for a good or service, intended to prevent prices from dropping too low.

Consumer Surplus

The differentiation between what consumers are prepared to expend on a good or service and the sums they actually do.

Supply Curve

An illustrated chart that demonstrates how the supply quantity relates to a good's price.

Producer Surplus

The discrepancy between what sellers are prepared to accept for a commodity and the real payment they secure from selling it at the prevailing market price.