The Value That Consumers Get (From Consuming a Product) Over

question 22

Multiple Choice

The value that consumers get (from consuming a product) over and above that they actually paid for the product is called:

• A) Consumer utility
• B) Consumption expenditures
• C) Consumer surplus
• D) Consumer demand

---

Definitions:

Formal Relations

Social connections and interactions that are governed by officially established rules and structures.

Informal Relations

Interactions and connections between individuals or groups that are not governed by formal rules, structures, or procedures, often based on personal or community ties.

Keynesian Economics

An economic theory proposed by John Maynard Keynes, suggesting that government intervention through public policies can influence macroeconomic productivity and stabilize economies.

Neoliberalism

An ideology and policy model emphasizing free-market capitalism, deregulation, and reduction in government spending.