Shopping and consumer habits (Difficult) Quiz Home › IELTS › IELTS English Vocabulary › Shopping and consumer habits (Difficult) 📝 IELTS – English Vocabulary – Shopping and consumer habits – Difficult 20 questions · 15 min timer · Explanations included · Free 1. What is 'product differentiation'? Making a product stand out from competitors Reducing the cost of production Increasing the size of a product Creating identical products None Show Hint Product differentiation involves making a product distinct from others in the market. Option A is incorrect as it implies no differentiation. 2. What does the term 'consumer surplus' mean? The difference between what consumers are willing to pay and the actual price The extra products given for free The amount saved by buying on sale The total cost of all purchases None Show Hint Consumer surplus is the difference between the maximum price a consumer is willing to pay and the price they actually pay. Option A is incorrect as it focuses on discounts. Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Click Submit to see your final score! Previous Start Quiz Next Time's up
