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Change in consumer surplus |
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Change in consumer surplusThe change in consumer surplus due to a change in market conditions, usually a price change. For a price change, it is measured by the area to the left of the demand curve between the two prices, indicating a gain if price falls and a loss if it rises.Similar MatchesConsumer Advisory Council (CAC)Consumer Advisory Council (CAC)A statutory body established by Congress in 1976. The Council, with 30 members who represent a broad range of consumer and creditor interests, advises the Federal Reserve Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters on which the Board seeks its advice. Consumer Price IndexConsumer Price IndexThe CPI, as it is called, measures the prices of consumer goods and services and is a measure of the pace of US inflation. The US Department of Labor publishes the CPI every month. Consumer Credit Protection Act of 1968Consumer Credit Protection Act of 1968Federal legislation establishing rules for the disclosure of the terms of a loan to protect borrowers. See: Truth in lending. Consumer surplusConsumer surplusThe difference between the maximum that consumers would be willing to pay for a good and what they actually do pay. For each unit of the good, this is the vertical distance between the demand curve and price. For all units purchased at some price, it is the area below the demand curve and above the price. Normally useful only as the change in consumer surplus. Consumer finance companyConsumer finance companySee: Finance company Further SuggestionsConsumer movementConsumer durables Consumer debenture Consumer interest Consumer goods Consumer price index Consumer credit consumer price index Consumer support estimate consumer durables National Foundation for Consumer Credit |
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