The British Isles Experience Warmer Weather Than Other Areas of the Same

question 33

Multiple Choice

The British Isles experience warmer weather than other areas of the same latitude because of:

• A)the vast forests that shelter the islands from winds
• B)the warm,moist Gulf Stream
• C)mountain ranges protecting the islands
• D)industry causing a localized greenhouse effect

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Definitions:

Equilibrium Price

The equilibrium price is the price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.

Consumer Surplus

The contrast between the full amount consumers are willing to disburse for a product or service and the actual disbursement.

Price Floor

A government-imposed minimum price that can be charged for a good or service, intended to prevent prices from dropping too low.

Consumer Surplus

The differentiation between what consumers are prepared to expend on a good or service and the sums they actually do.