A Software Tool with a Graphical User Interface for Displaying

question 44

Multiple Choice

A software tool with a graphical user interface for displaying Web pages and for accessing the Web and other Internet resources is called a Web

• A)service.
• B)client.
• C)browser.
• D)app.
• E)beacon.

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Definitions:

Producer Surplus

The contrast between the asking price of goods by producers and the actual selling price.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from trading a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay, measuring the benefit to consumers from market transactions.

Price Ceiling

A legal maximum price that can be charged for a product or service, intended to protect consumers from high prices.