Examlex
A __________ moraine forms on the edge or side of a glacier.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit consumers receive.
Producer Surplus
The difference between what producers are willing and able to supply a good for and the price they actually receive, measuring the benefit to producers.
Total Surplus
The total net gain to society from creating and consuming a product or service, encompassed by the combination of consumer and producer surplus.
Deadweight Loss
An inefficiency in the economy that results when the market equilibrium for a good or service isn't attained or is unattainable.
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