Consumer surplus is an economic concept that represents the excess value a consumer derives from consuming goods over the amount paid for those goods.
Gold fixing refers to the daily determination of the price of gold by selected gold specialists and bank officials in London, Paris, and Zurich. The price is fixed at 10:30 A.M. and 3:30 P.M. London time every business day according to prevailing market forces of supply and demand.
A retail pricing strategy to attract customers either with a high price image, strong personal service, and merchandise quality or by underbidding the competition in the case of below-the-market pricing.
