1
Q
Consumer surplus
A
The difference between the price the consumer is willing to pay and the price they actually pay
2
Q
Producer surplus
A
The difference between the price the producer is willing to charge and the price they actually charge
Economics
flashcards
Decks in class (19)
# Cards
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Micro 128
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Micro 214
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Micro 39
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Micro 45
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Micro 55
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Micro 67
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Micro 77
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Micro 84
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Micro 92
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Macro 1 - Economic growth26
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Maro 2 - AD22
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Macro 3 - Unemployment10
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Macro 4 - Inflation6
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Macro 5 - Balance of Payments7
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Macro 6 - AS5
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Macro 7 - Demand side policies7
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Macro 8 - Supply side policies3
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Macro 9 - Random7
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Exam technique8
