Gains From Trade
Gains From Trade
Consumer surplus is the difference between the maximum price a consumer is willing to pay and the price they actually pay. It measures the net benefit consumers gain from buying in a market.
Step-by-step lessons on AQA A Level Economics 1.5.11 Consumer and producer surplus (A-level only). Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.