A Feeling or State of Mind Is Called A(n)

question 53

Multiple Choice

A feeling or state of mind is called a(n) :

• A)Value
• B)Emotion
• C)Personality factor
• D)Belief
• E)Mood

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Definitions:

Excess Burden

Excess Burden, also known as deadweight loss, refers to the cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.

Consumers

Individuals or entities that purchase goods and services for personal use.

Widgets

A generic term for any hypothetical manufactured good used in economics or consumer studies.

Consumers

Individuals or entities that purchase goods or services for personal use and not for manufacturing or resale.