Which of the Following Is A(n) Example of a Widget

question 4

Multiple Choice

Which of the following is a(n) example of a widget or control?

• A) Drop down list
• B) Check box
• C) Radio button
• D) All the above

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Definitions:

Deadweight Loss

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

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually do pay.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the economic benefit to consumers.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.