Producer Surplus Directly Measures

question 40

Multiple Choice

Producer surplus directly measures

• A)the well-being of sellers.
• B)production costs.
• C)excess demand.
• D)unsold inventories.

Understand the environmental and health issues associated with waste management.

Appreciate the importance of community involvement and political action in public health.

Understand the effects of global warming on health.

Identify environmental risks associated with modern lifestyles.

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Definitions:

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower opportunity cost than others.

Broccoli

A green vegetable with a large flowering head that is eaten as a vegetable.

Pounds

A unit of currency used in the United Kingdom and other territories.

Comparative Advantage

An economic principle that refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another.