The Difference Between the Value That an Activity Generates and the Cost

question 37

Multiple Choice

The difference between the value that an activity generates and the cost of the activity is called the ________.

• A) margin
• B) revenue
• C) break-even point
• D) value-addition point

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Definitions:

S And D Curves

In economics, the supply and demand curves which graphically represent the relationship between the quantity of goods that producers are willing to sell and consumers are willing to buy at different price levels.

Consumer Surplus

The contrast between the total price consumers are willing to pay for a good or service and the actual amount paid.

Equilibrium Point

In economics, it refers to the state where market supply equals demand, resulting in a stable price and quantity.

S And D Curves

Supply and Demand curves; graphical representations of the relationship between the quantities of goods and services that producers are willing to sell and consumers are willing to buy at various prices.