Surplus in Economics: Definition & Overview

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question 1 of 3

Which one of the following is the best explanation of economic surplus?

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1. Which one of the following is the best explanation of consumer surplus?

2. Which of the following is the best explanation of producer surplus?

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About This Quiz & Worksheet

This quiz and worksheet can help gauge your understanding of economic surplus and factors that affect it. Topics you will need to know include producer surplus and consumer surplus.

Quiz & Worksheet Goals

This quiz and worksheet combo helps you review:

  • Economic surplus
  • Consumer surplus
  • Market at equilibrium
  • Producer surplus
  • Relationship between market equilibrium and economic surplus

Skills Practiced

Use this quiz and worksheet to test out these skills:

  • Information recall - access the knowledge you have gained regarding characteristics of economic surplus
  • Knowledge application - use your knowledge to answer questions about market at equilibrium
  • Making connections - use your knowledge of the concept on economic surplus to recognize the best explanation for its cause

Additional Learning

To learn more, review the corresponding lesson, Surplus in Economics: Definition & Overview. This lesson will help you:

  • Learn about supply and demand
  • Understand economic surplus through graphs and diagrams
  • Examine properties of consumer surplus
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