The Country with the Highest Index Score in the Year

question 18

Multiple Choice

The country with the highest index score in the year 2013 for Global Manufacturing Competitiveness was

• A)Germany.
• B)USA.
• C)China.
• D)India.

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Definitions:

Marginal Utility

The additional satisfaction or utility gained by consuming one more unit of a good or service.

Consumer Surplus

The consumer surplus is the gap between what consumers are ready and capable of paying for a good or service and what they actually spend on it.

Marginal Utility

The augmented satisfaction or value someone derives from the consumption of an extra unit of a good or service.

Consumer Surplus

Consumer surplus represents the discrepancy between the total price consumers are prepared and able to spend on a product or service and the actual amount they end up paying.