the study of how the allocation of resources affects economic well being | ||
the maximum amount that a buyer will pay for a good | ||
a buyer's willingness to pay minus the amount the buyer actually pays | ||
the value of everything a seller must give up to produce a good | ||
the amount a seller is paid for a good minus the seller's cost | ||
the property of a resource allocation of maximizing the total surplus received by all members of society | ||
the fairness of distribution of well-being among members of society |
AP Econ Chapter 7 Consumer, Producer, and Effiiciency of Markets
Primary tabs
Need Help?
We hope your visit has been a productive one. If you're having any problems, or would like to give some feedback, we'd love to hear from you.
For general help, questions, and suggestions, try our dedicated support forums.
If you need to contact the Course-Notes.Org web experience team, please use our contact form.
Need Notes?
While we strive to provide the most comprehensive notes for as many high school textbooks as possible, there are certainly going to be some that we miss. Drop us a note and let us know which textbooks you need. Be sure to include which edition of the textbook you are using! If we see enough demand, we'll do whatever we can to get those notes up on the site for you!