Economic Benefits: Definition & Concept


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question 1 of 3

Which of the options below are considered an economic benefit?

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1. An economic benefit is a benefit that can be expressed in terms of ______ generated.

2. The difference between what a consumer is willing to pay and what he or she actually paid is known as _____.

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About This Quiz & Worksheet

Examining the gains from certain actions in the economy, this quiz and corresponding worksheet will help you gauge your knowledge of economic benefits. Topics you'll need to know to pass the quiz include understanding the options considered economic benefits as well as knowing the definition of economic benefits.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review:

  • Examples of economic benefits
  • Definition of economic benefits
  • Difference between what suppliers were paid and what they are willing to get paid
  • Financial measurement not considered an economic benefit

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related economic benefits lesson
  • Interpreting information - verify you can read information regarding economic benefits and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about financial measurements that aren't economic benefits

Additional Learning

To learn more about how to get ahead economically, review the corresponding lesson Economic Benefits: Definition & Concept. This lesson will help you:

  • Define what economic benefits are
  • Understand the key components of economic benefits
  • Identify how benefits are measured
  • Describe the roles of consumer and producer surplus in measuring economic benefits
  • Know where net income might be measured