When You List Places for Your Events, ______

question 23

Multiple Choice

When you list places for your events, ______.

• A) go by memory
• B) don't bother checking the addresses
• C) Google them
• D) double-check the addresses

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Definitions:

Consumer Surplus

The discrepancy between what consumers are prepared and capable of spending on a product or service versus what they end up paying.

Decreases Price

A reduction in the cost or value of a good or service.

Consumer Surplus

The variance between the overall sum consumers can and will pay for a good or service and what they genuinely spend on it.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive (higher market price).