Answer:
The answer is consumer's surplus
Explanation:
Consumer's surplus is the difference between what the consumer or buyer is willing to pay and the amount he or she eventually paid.
For example, Mr A is willing to pay $100 for a product and the producer is willing to sell for $90. After much negotiation between mr A and the seller, he eventually paid $85. What he paid was lower than what he was willing to pay before.
So the consumer surplus is $100 - $85 = $15
Answer:
D. secured loan
Explanation:
"A secured loan is a loan backed by collateral"
[A. unsecured loan is a loan that doesn't require any type of collateral.]
[B. credit card ...no]
[C. property loan is a secured loan that is sanctioned keeping an asset as mortgage with the lender.]
[D. secured loan is a loan that is backed by collateral]
