Final answer:
The term an economist would use to describe what happens when a shopper gets a "good deal" on a product is consumer surplus.
Step-by-step explanation:
The term an economist would use to describe what happens when a shopper gets a "good deal" on a product is consumer surplus. Consumer surplus is the difference between the price that a consumer is willing to pay for a product and the actual price that they have to pay. When a shopper gets a good deal, they are able to purchase the product for a lower price than they were willing to pay, resulting in consumer surplus.
For example, if a shopper is willing to pay $100 for a product but is able to purchase it for $50, they would have a consumer surplus of $50. This represents the extra value that the shopper gains from the purchase.
Consumer surplus is an important concept in economics as it measures the benefit that consumers receive from transactions in a market. It is also used to analyze the efficiency of markets and the distribution of welfare.