Which of the Following Statements Best Describes the Concept of Consumer

question 90

Multiple Choice

Which of the following statements best describes the concept of consumer surplus?

• A)"I paid $89 for a microwave oven last week.This week the same store is selling the same microwave oven for $69."
• B)"I sold my hard copy of Harry Potter and the Half-Blood Prince to a used book store for $10 even though I was willing to sell it for $5."
• C)"Target was having a sale on tube socks so I bought 5 pairs."
• D)"I was going to pay $200 for new sunglasses that I had seen at the Oakley store but I ended up paying only $140 for the same sunglasses."

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Definitions:

Public Agencies

Government entities or organizations that manage and implement public policies, services, or programs.

Citizens Respect

Refers to the regard and consideration shown by individuals towards the laws, cultures, and norms of their society.

Charitable Services

Charitable Services pertain to programs and activities designed to provide aid, support, and relief to those in need through nonprofit organizations.

Nonprofits

Organizations that operate for purposes other than generating profit, focusing on charitable, educational, scientific, or social missions.