Examlex
Regarding the use of mnemonics to remember information,which of the following statements is FALSE?
Surplus Amount
The excess quantity of a product that occurs when the supply of the product exceeds the demand for it at a given price.
Consumer Surplus
A measure of the difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.
Price
The price one must pay to obtain a service or product.
Surplus Amount
The excess of revenues over expenditures in a budget, or inventory beyond what is currently needed.
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