Question

Class 9th economics ch 1 Question
1. Meaning of surplus production
2. What do farmers do with surplus production?

Answer 1

Answer:

1. Producer surplus isdefined as the difference between the amount the producer is willing to supply goods for and the actual amount received by him when he makes the trade. Producer surplus is a measure of producer welfare

2.Surplus is the excessive amount of production produced by the farmers. Farmer's excessive production is sold in the market and the profit is gained. This profit is called surplus.