_____ Is the Upper Limit of Sales That Can Be

question 20

Multiple Choice

_____ is the upper limit of sales that can be achieved by all firms for a specified product-market over an indicated time period.

• A) Market potential
• B) Market share
• C) Differential pressure
• D) Absolute threshold

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Definitions:

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be used by everyone and one person's use does not reduce its availability to others.

Private Good

A product or service that is consumable and excludable, meaning its use can be restricted to paying customers.

Pareto Optimal

A situation in the economy where optimizing the allocation of resources means that improving one person's situation leads to a decline in another's.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from use, and use by one individual does not reduce availability to others.