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Economics- Edexcel 1.2.8

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Term
Definition
show the welfare that people gain from buying and consuming goods and services  
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consumer surplus   show
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show the health, happiness, and fortunes of a person or group  
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price discrimination   show
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show the difference between the price producers are willing and able to supply a product for and the price they receive in the market  
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show supernormal profit  
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profit motive   show
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community surplus names   show
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show the sum of consumer and producer surplus at a given price and quantity in a market  
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show a cost to society created by market inefficiency, when supply and demand are not in equilibrium  
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