Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Management Brand Management Consumer Buying Behaviour
Which of the following correctly explains the notion of consumer surplus?
1
the difference between what consumers are willing to pay for a given quantity of goods and services and the amount they actually pay.
2
the difference between what consumers are willing to buy given quantity of goods and services and the quantity they actually buy.
3
the difference between what consumers are willing to plan to buy given quantity of goods and services and the quality they actually buy.
4
the difference between total utility and addition to total utility from goods and services the consumers buy.