Difference between revisions of "Surplus"
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| − | A '''surplus''' is the excess in quantity supplied above the quantity demanded. This occurs when the price of a good is higher than the market equilibrium price. When the seller lowers the price for that good, more consumers will buy the good and the surplus will disappear. Some surpluses cannot be fixed because the government imposes a | + | A '''surplus''' is the excess in quantity supplied above the quantity demanded. This occurs when the price of a good is higher than the market equilibrium price. When the seller lowers the price for that good, more consumers will buy the good and the surplus will disappear. Some surpluses cannot be fixed because the government imposes a binding price floor in a market creating a surplus. |
| − | [[ | + | ==See also== |
| + | *[[Budget surplus]] | ||
| + | *[[Consumer surplus]] | ||
| + | *[[Producer surplus]] | ||
| + | *[[Surplus Value]] | ||
| + | *[[Trade surplus]] | ||
| + | |||
| + | [[Category:Budget Terms]] | ||
Latest revision as of 00:39, November 23, 2017
A surplus is the excess in quantity supplied above the quantity demanded. This occurs when the price of a good is higher than the market equilibrium price. When the seller lowers the price for that good, more consumers will buy the good and the surplus will disappear. Some surpluses cannot be fixed because the government imposes a binding price floor in a market creating a surplus.
