Refer to Figure 19

question 68

Multiple Choice

Refer to Figure 19.1.Ben's consumer surplus is equal to

• A) $50.
• B) $100.
• C) $200.
• D) $0.

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Definitions:

Wealth Of Nations

A seminal book by Adam Smith, published in 1776, that discusses what builds nations’ wealth, emphasizing the importance of a free market economy.

Virtues

Moral excellence and righteousness; qualities of character that are deemed to be morally good or desirable in a person.

Market System

In this economic order, the strategies for investment, production, and merchandise distribution are dictated by supply and demand trends, with a free-market policy guiding the pricing of all goods and services.

Economic Systems

The means by which countries or communities organize and distribute available resources, goods, and services across the economy.