The Benefit to Buyers of Participating in a Market Is

question 105

Multiple Choice

The benefit to buyers of participating in a market is measured by

• A)the price elasticity of demand.
• B)consumer surplus.
• C)the maximum amount that buyers are willing to pay for the good.
• D)the equilibrium price.

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Definitions:

Zeigarnik Effect

The psychological phenomenon whereby individuals remember uncompleted or interrupted tasks better than completed ones.

Achievement

The accomplishment of an aim or purpose, often recognized because of effort or skill.

Goals

Goals or intended results that a person or a team strives to accomplish.

Overly Optimistic

Describes an excessive belief in the positive outcomes of situations or events, often ignoring possible risks or negative outcomes.