\nConsumer surplus - the difference between what a consumer is willing to pay and what they actually pay. Aggregate consumer surplus measures consumer welfare.\n.
\nProducer …surplus - the difference between what a producer is willing to sell their product for and what they actually receive. Aggregate producer surplus measures producer welfare (MORE)
These are goods which are in extra quantity and are given to retailers on buying a package of goods. These are then sold at low cost because these are profit to retailers at a…ny price sold. These goods are 100% original and of the same quality as of other goods.These are available in every brand including the high end like ARMANI,GUCCI,etc (MORE)
Consumer surplus is the difference between the maximum amount a person is willing to pay for a good and its current market price. Producer surplus is the difference between …the current market price and the full cost of production for the firm. (MORE)
A surplus is an extra amount of something, I guess you could compare them to leftovers in our time, but some synonyms are: excess, superabundance, surfeit, oversupply, remains…, profusion, plethora, etc., etc., etc. (MORE)
It means an area, community or country has produced more of a certain type of crop than the area, community or country needs to feed its self. The excess (the surplus) can the…refore be sored (to cope with a bad season) or sold to other countries. (MORE)