Please see the attached - Match the correct term to the description.

I Choose... The difference between tax revenue and government expenditure Productive efficiency the difference between the list price and the price the consumer can negotiate External benefits The cumulative difference between what consumers are willing to pay and the price they actually pay External costs none of the available choices The cumulative difference between the price producers receive and the price they require in order to produce Allocative efficiency The sum of consumer surplus and producer surplus Society would prefer less of this product being produced Non-rival Non-excludable The difference between the suggested retail price and the actual cost Described as Extemalities Society would prefer more of this product being produced Economic surplus is: Society wo If the price of a product is less than its marginal Choose... social costs, then: When one person's consumption doesn't reduce Choose... the amount available for others this is known as: Consumer surplus is the value of: Choose... The impossibility of preventing non-buyers from Choose... enjoying the benefits of a product is known as: If a product is being produced at the lowest possible short and long-run average costs this is Choose... known as: If a product is produced where its price is equal to Choose... its marginal costs this is known as: Producer surplus is the value of: the differe The costs that are suffered by people other than the producers or consumers of a product are External co known as: The benefits that are enjoyed by people other than the producers or consumers of a product are External be known as: What is the term for the production of that combination of products Productive which best satisfies consumers' demands