The Difference Between What a Consumer Is Willing to Pay

question 5

Multiple Choice

The difference between what a consumer is willing to pay for a product and what she actually pays when buying it is known as

• A)consumer surplus.
• B)the exchange rate.
• C)the inflation rate.
• D)price discrimination.

---

Definitions:

Negative Impact

Adverse effects or consequences that result from a particular action or set of conditions.

Alertness

The state of being awake, aware, and attentive, often in response to stimuli or as part of normal consciousness.

Sleep Terrors

Episodes of screaming, intense fear, and flailing while still asleep, often paired with difficulty fully waking up, occurring predominantly in children.

Parasomnias

A group of sleep disturbances characterized by unusual actions, feelings, sensations, or dreams that appear during the process of falling asleep, throughout the sleep period, in transitions between stages of sleep, or upon waking.