Economics- Edexcel 1.2.8
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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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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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