Saturday, September 1, 2018

Surplus In Economics

Surplus is also known as total welfare.
It is two types-

1. Consumer Surplus:-

It is the difference between Cunsumer want to pay and cunsumer actually paid.
Example, When a person go to market for buy a T-shirt for 400 but he get it at 300. Here 100 is cunsuCun surplus.

2. Producer Surplus:-

Difference between Producer want to sell and Producer really sold.
Example, When a person go to the market for seal a mobile at 5000 but he found that the price of that mobile is 6000. Here 1000 is produPro surplus.
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