Examlex
Which is NOT true?
Consumer Surplus
The gap between what consumers are prepared and can afford to pay for a product or service versus what they end up paying.
International Trade
The exchange of goods and services between countries, driven by comparative advantage and resulting in mutual economic benefits.
Autarky Price
The price of a good or service within a country that is not engaged in trade with other countries, self-sufficiently.
Producer Surplus
The difference between what producers are willing to accept for a good or service versus what they actually receive, often visualized as the area above the supply curve and below the market price.
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