Surplus Is

question 53

Multiple Choice

Surplus is:

• A) a measure of the value that buyers and sellers get from participating in a market
• B) maximized for individuals whose reservation price equals the market price.
• C) negative for those who do not participate in a market.
• D) All of these are true.

---

Definitions:

Baptized Sikhs

Sikhs who have undergone the Amrit Sanskar ceremony, formally committing to the tenets of Sikhism.

Kanga

A brightly colored garment consisting of a single piece of cloth, often with an inscribed message, worn in Eastern African countries as a traditional dress or for carrying infants.

Ceremonial Sword

A decorative sword used primarily for ceremonial purposes, often symbolizing authority or honor in various cultures.

Bilateral Contract

A contract involving two parties where each party makes a promise to the other.