Commerce Exam > Commerce Questions > Consumer’s surplus is also known as?a)E...
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Consumer’s surplus is also known as?
- a)Elasticity of demand
- b)Indifference surplus
- c)Buyer’s surplus
- d)Differential surplus
Correct answer is option 'C'. Can you explain this answer?
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Consumer’s surplus is also known as?a)Elasticity of demandb)Indi...
A consumer is an individual or entity that purchases goods or services for personal or business use. They play a vital role in the economy as they drive demand for products and services, which helps to create jobs and generate revenue for businesses. Consumers can be categorized into various groups based on their age, gender, income, and lifestyle. Understanding consumer behavior and preferences is crucial for businesses to develop effective marketing strategies and to improve their products and services.
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Consumer’s surplus is also known as?a)Elasticity of demandb)Indi...
Consumer's surplus is also known as buyer's surplus because consumers are also also called buyers
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Consumer’s surplus is also known as?a)Elasticity of demandb)Indifference surplusc)Buyer’s surplusd)Differential surplusCorrect answer is option 'C'. Can you explain this answer?
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