Economy, asked by pintusngh4972, 1 year ago

What do you understand by positional value in economics?

Answers

Answered by Rohit65k0935Me
0

Economic value is a measure of the benefit provided by a good or service to an economic agent. ... If a consumer is willing to buy a good, it implies that the customer places a higher value on the good than the market price. The difference between the value to the consumer and the market price is called "consumer surplus".

Similar questions