Entrepreneur TV is Available onYour Favorite AppsEntrepreneurTV offers original shows ranging from high-stakes investment, documentaries, behind-the-scenes looks at major brands, tips for starting your company and much more. 24hrs a day, 7 days a week. Watch now How to Lead Through Times of Economic UncertaintyWed, Dec 7, 15:00 EST Being a leader during uncertain economic times can be challenging. Learn from Credit Karma’s CEO, Kenneth Lin, how he successfully grew a business during the 2008 recession and how you can do the same today. Register now → Register now The San Francisco Franchise Show2 Days Only! Meet Face to Face with Proven Businesses Proven, money making businesses that are now expanding in San Francisco are here to meet new potential owners. This is your only opportunity to meet with the hottest businesses face to face. Ask questions and get the information you need in a no pressure environment. Be there, find the businesses that excite you, shake hands and say hello! Problem SolversProblem Solvers with Jason Feifer features business owners and CEOs who went through a crippling business problem and came out the other side bigger and stronger. Feifer, Entrepreneur’s Editor in Chief, pulls these stories out so other businesses can avoid the same crippling problems. Listen now How Success HappensHow Success Happens with Robert Tuchman features some of today's brightest entrepreneurial minds talking about overcoming challenges and using them as learning experiences to create success. Listen now Behind the ReviewHosted by Yelp’s Small Business Expert, Emily Washcovick, Behind the Review features conversations with reviewers and business owners about their experiences—whether it was one star or five stars—giving listeners behind-the-scenes insights into what was really going on. Listen now Your Business Dream Starts HereOur book, Start Your Own Business, will guide you from dream to reality. It's your guide to becoming an expert in planning, marketing, sales and more.Can be thought of as the wealth that trade creates for consumers in a market?Consumer surplus can also be thought of as the wealth that trade creates for consumers in a market. Consumer surplus is measured in dollars. Graphically, consumer surplus is the area below the demand curve and above the equilibrium price, from zero to the quantity traded.
What is the consumers gain from an exchange?Consumer surplus is based on the economic theory of marginal utility, which is the additional satisfaction a consumer gains from one more unit of a good or service. Consumer surplus always increases as the price of a good falls and decreases as the price of a good rises.
What shows how much of two goods an economy can produce when it is using all available resources as efficiently as possible?The Production Possibilities Frontier (PPF) is a graph that shows all the different combinations of output of two goods that can be produced using available resources and technology.
Is defined as the difference between the maximum price a consumer is willing to pay for a product and the actual price?Consumer surplus is the difference between the highest price a consumer is willing to pay and the actual price they do pay for the good, or the market price.
|