The Major Drawback of a Pie Chart Is Its

question 109

Multiple Choice

The major drawback of a pie chart is its

• A)reliance on three-dimensional graphics to convey meaning.
• B)inability to portray components of a whole.
• C)complexity.
• D)lack of precision.
• E)lack of visual appeal.

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Definitions:

Consumer Surplus

The variance between the sum consumers are willing to pay for a good or service and the amount they truly pay.

Willingness to Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting the value they assign to it.

Consumer Surplus

The gap between the sum consumers are ready and able to spend on a good or service and what they really pay for it.

Normal Goods

Goods for which demand increases as consumer income rises.