Which of the Following Is an Example of a Marketing

question 90

Multiple Choice

Which of the following is an example of a marketing exchange?

• A)The waitress gave Cyrus a menu and he placed his food order.
• B)Griffin helped Mandy replace the air filter in her lawn mower.
• C)Ken and Maggie gave their son an MP3 player for his birthday.
• D)Mrs.Maloney gave Larry a box of homemade fudge in return for painting her fence.
• E)Jenny asked Melisa if she could borrow her pen for a while since her pen had stopped working.

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Definitions:

Producer Surplus

The difference between the amount a producer is actually paid for a good compared to the minimum amount they would accept for the good.

Excess Supply

A market condition where the quantity of a commodity available for sale exceeds the quantity demanded at the current price.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive, representing their gain.

Producer Surplus

The difference between what producers are willing to accept for a product and the amount they actually receive.