Examlex
____________________ is a type of CBT (computer-based training) that uses Internet technology and consists of application software on the Web.
Consumer Surplus
The distinction in the total financial outlay consumers are prepared to make for a good or service and the outlay made.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded, typically sloping downward from left to right.
Willingness To Pay
The maximum amount an individual is prepared to spend to procure a good or service or to avoid something undesirable.
Consumer Surplus
The split between the total amount consumers are prepared to spend on a good or service and the actual amount they spend.
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