Match the Following Definition with Their Terms

question 41

Multiple Choice

Match the following definition with their terms.
-A business center some distance from the downtown but close to the intersection of major highways

• A) Metropolis
• B) Suburb
• C) Edge city
• D) Slum
• E) Ghetto or barrio
• F) Megalopolis

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Definitions:

Existing Producers

Companies or individuals that are currently producing and selling goods or services within a market.

Consumer Surplus

The discrepancy between what consumers are prepared and able to spend on a good or service and the actual amount they end up paying.

Price Falls

Situations where the market prices of goods or services decrease over time.

Surplus Increase

A scenario where the excess of supply over demand rises, indicating a larger availability of goods or services than there are consumers.