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Producer Surplus: Definition, Formula & Example

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question 1 of 3

What is a producer surplus?

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1. When a producer sells a good for more than the minimum he or she was willing to accept, he or she is getting extra:

2. What do you do to calculate producer surplus?

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About This Quiz

This worksheet and quiz combo will test your knowledge of the concept of producer surplus. Quiz questions will test your understanding of definitions, uses, and formulas associated with producer surplus.

Quiz Worksheet & Goals

This quiz will test you on the following:

  • Definition of producer surplus
  • Formulas to determine a producer surplus
  • How to calculate a producer surplus
  • Using calculations to determine if there is a surplus

Skills Practiced

Students will have the opportunity to use the following skills with these assessment tools:

  • Reading comprehension - ensure that you draw the most important information from the related business lesson
  • Problem solving - use acquired knowledge to solve practice problems regarding producer surplus and commonly used formulas
  • Knowledge application - use the knowledge you have obtained to answer questions regarding how to calculate producer surplus in various scenarios

Additional Learning

By reviewing the lesson titled Producer Surplus: Definition, Formula & Examples, you will also learn about the following:

  • Different ways to look at and define producer surplus
  • Difference between profit and producer surplus
  • Calculating profit and producer surplus using different examples of sales
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