Producer Surplus

question 29

Multiple Choice

Producer surplus

• A)is the minimum amount a firm must receive to engage in trade.
• B)is a measure of what a firm gains from trade.
• C)represents the opportunity cost of the firm.
• D)determines whether or not a firm will produce in the long run.

---

Definitions:

Job Diagnostic Survey

A tool used to measure the elements of a job, as per the Job Characteristics Model, to determine how motivating the job is for employees.

Growth Need Strength

The degree to which an individual desires and is motivated by opportunities for personal growth and development within their job or career.

Job Context

The work environment and all the conditions, including tasks and responsibilities, that influence one's job.

Motivating Potential Score

A numeric index used to predict job satisfaction and motivation potential, based on the design of a job and five core job characteristics.