Being more than or in excess of what is needed or required. In accounting a non-profit organisation does not make a profit; anyexcess income over expenditure is called a Surp…lus instead. ( Full Answer )
\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 ( Full Answer )
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 ( Full Answer )
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. ( Full Answer )
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. ( Full Answer )
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. ( Full Answer )