Find out the term for the purpose that a buyer must pay for the goods at the time of its delivery ?

Related Mcqs:

1. Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?

   A. Three vases will be sold, and consumer surplus is Rs80
   B. One vase will be sold, and consumer surplus is Rs5.
   C. One vase will be sold, and consumer surplus is Rs30.
   D. Three vases will be sold, and consumer surplus is Rs0.
   E. Two vases will be sold, and consumer surplus is Rs5.

2. A buyer’s willingness to pay is that buyer’s ?

   A. minimum amount they are willing to pay for a good
   B. producer surplus.
   C. consumer surplus
   D. maximum amount they are willing to pay for a good
   E. none of these answers

3. What is called the price that a potential buyer is willing to pay for a security ?

   A. Bid
   B. Offer price
   C. Quote price
   D. None of these

4. The term liquidate refers to pay off a debt, a claim or an obligation or to settle the affairs by determining liabilities and applying assets to their discharge. What is also converted by the term?

   A. To convert assets into cash
   B. Abolish
   C. Both of them
   D. All of them

5. If a buyer’s willingness to pay for a new Honda is Rs20,000 and she is able to actually buy it for Rs18,000 her consumer surplus is ?

   A. Rs18,000
   B. Rs20,000
   C. Rs2,000
   D. Rs0.

6. A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle ?

   A. Relative Advantage
   B. Complete Advantage
   C. Comparative Edge
   D. Comparative Advantage

7. A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle?

   A. Relative Advantage
   B. Complete Advantage
   C. Comparative Edge
   D. Comparative Advantage

8. _______ represents the difference between what consumer have to pay for a product and what they are willing and able to pay ?

   A. producer surplus
   B. deadweight surplus
   C. government surplus
   D. consumer surplus

9. The difference between what consumers have to pay for a particular and what they are willing to pay is known as ?

   A. consumer surplus
   B. producer surplus
   C. deadweight costs
   D. deadweight surplus

10. The optimal level of provision of public goods is where society total willingness to pay per unit is equal to the ?

    A. variable cost of producing the good
    B. average cost of producing the good
    C. marginal cost of producing the good
    D. total cost of producing the good