Examlex
How do economists study the interactions between households and businesses?
Imports
Goods and services that are brought into a country from abroad for sale.
Price
The amount of money required to purchase a product or service.
Consumer Surplus
The discrepancy between what consumers are prepared and capable of paying for a product or service and what they end up actually paying.
Willing To Pay
The maximum amount a consumer is prepared to spend on a good or service, reflecting the perceived value or utility gained from the purchase.
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