According to a Recent Study of 8-Year Old Children Who

question 53

Multiple Choice

According to a recent study of 8-year old children who began participating in sports and continued for 24 months,which gender benefits the MOST from participating in sports?

• A)boys
• B)girls
• C)neither
• D)both equally

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Definitions:

Market Equilibrium

The condition in a market where the quantity supplied is equal to the quantity demanded at a certain price level.

Total Consumer Surplus

The total benefit received by consumers in a market transaction, measured as the difference between what consumers are willing to pay and what they actually pay.

Price Ceiling

A government-imposed limit on how high the price of a good or service can be charged, usually intended to protect consumers.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.