Economic Value Is Created When

Multiple Choice

Economic value is created when:

A) The price that the customer is willing to pay for a product exceeds the costs of the material inputs used to produce the product
B) The surplus of value is distributed between customers and producers in the industry by the forces of competition
C) The value of a product to consumers exceeds the price they paid for it
D) The price that the customer is willing to pay for a product exceeds the cost of supplying it