Jake Arrived Home,only to Discover That He'd Left His Keys

question 74

Multiple Choice

Jake arrived home,only to discover that he'd left his keys on his desk at work.This minor source of stress is known as a/n ______________________.

• A)hassle
• B)catastrophe
• C)annoyance
• D)problem

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Definitions:

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 pay.

Producer Surplus

The disparity between the minimum amount producers are prepared to take for a product or service and the higher amount they end up getting.

Blockade

An act of sealing off a place to prevent goods or people from entering or leaving, typically implemented as a form of economic or military pressure.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive.