Consumer Surplus: Definition, Formula & Examples

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question 1 of 3

How is consumer surplus calculated?

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1. Who determines consumer surplus?

2. What is a value associated with the difference as to what drives the willingness to pay over the actual price?

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About This Quiz & Worksheet

The quiz and worksheet will assess what you know about consumer surplus. Topics you will need to know include how it is calculated and who determines surplus.

Quiz & Worksheet Goals

Questions on the quiz/worksheet combo ask you to:

  • Identify a value associated with a difference of prices
  • Define consumer surplus
  • Understand willingness to pay with regard to actual price

Skills Practiced

Use the quiz and worksheet to develop the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on consumer surplus
  • Critical thinking - apply relevant concepts to examine information about how consumer surplus is calculated in a different light
  • Interpreting information - verify that you can read information regarding who determines surplus and interpret it correctly

Additional Learning

Find out more about this topic with the lesson named Consumer Surplus: Definition, Formula & Examples. The lesson will cover the following study objectives:

  • Explain what determines a surplus
  • Understand who creates a consumer surplus
  • Use the formula to calculate surplus
  • Analyze examples
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