Final answer:
A term an economist would use to describe what happens when a shopper gets a 'good deal' on a product is 'consumer surplus,' which defines the economic benefit to consumers when they purchase products at prices lower than the maximum they are willing to pay.
Step-by-step explanation:
When a product or service meets or exceeds a customer expectation, it can be described as consumer satisfaction or value for money. In an economics context, this is often termed as 'consumer surplus,' which occurs when the price that consumers pay for a product or service is less than the price they are willing to pay. Essentially, consumer surplus is a measure of the economic benefit or good deal that consumers receive when they purchase a product at a market price that is lower than the maximum price they would be willing to pay.
Every purchase is based on a belief about the satisfaction that the good or service will provide, influenced by the information available to the buyer. Imperfect or unclear information can lead to buyer's regret or hesitation in future purchases. Therefore, achieving a good deal not only depends on the actual financial advantage but also on the accuracy and clarity of information about the product's value.