<p>Okay, I had an economics quiz today and I had a hard time with one question. The question is just a definition question, but idk, I found it hard cause I didn't really study much (lols, me stupid).</p>
<p>Cost is...
a. producer deficit
b. the seller's willingness to buy
c. producer surplus
d. the seller's willingness to sell</p>
<p>I was going to put d, but I realized that didn't account for the cost of production. So I put c. Is this right?! I need a confirmation...</p>
<p>a. Producer deficit.</p>
<p>It takes cuts money off the producer's revenue.</p>
<p>It's not C, because producer surplus is extra inventory or profit.</p>
<p>I'm highjacking your thread- hope you don't mind. I took economics in 10th grade, but it was in a night school class where we had open book tests and people still failed... Translation: the only thing I know about econ is the term 'supply and demand.'
Those of you who've taken AP Econ- which is better- micro or macro? I'm registering for college classes soon, and I want to start getting SS classes out of the way (and it seems like Econ's 300-person class would be great considering it probably won't have any papers to write...)</p>
<p>Lols, no prob. :) Nobody was really replying anyway. Yeah, pretty much everyone fails in my economics class. This kid who had a perfect 1600 on the SAT (M+CR composite) got a 70% on the last test. Luckily, I was able to eek out a 90%...</p>
<p>I personally prefer macro since it was really interesting to me - economic and monetary policy was cooler than wading through the crazy amounts of definitions and concepts in micro.</p>