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Consumer surplus |
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Consumer 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.Similar MatchesConsumer price indexConsumer price indexAn index which tracks the prices of a variety of goods purchased by an average consumer. The goods typically include food, clothing, utilities and medical care. Also known as the cost of living index which is used as a reference for wage increases and other similar inflation prone items such as Social Security payments. Consumer interestConsumer interestInterest paid on consumer loans; e.g., interest on credit cards and retail purchases. Consumer price indexConsumer price indexA price index for the goods purchased by consumers in an economy, usually based on only a small sample of what they consume. Commonly used to measure inflation. Contrasts with the implicit price deflator. 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 movementConsumer movementOne of four modes of supply of traded services, this one entails the buyer moving (temporarily) to the foreign location of the seller, as in the case of tourism. Further SuggestionsNational Foundation for Consumer CreditConsumer credit Consumer Advisory Council (CAC) consumer durables Consumer support estimate Change in consumer surplus Consumer debenture Consumer Credit Protection Act of 1968 Consumer durables Consumer finance company Consumer goods |
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