Question

Define surplus with examples .

Answer 1

Answer:

• A surplus is when you have more of something than you need or plan to use. For example, when you cook a meal, if you have food remaining after everyone has eaten, you have a surplus of food. ... A consumer surplus is the difference between the maximum the consumer is willing to pay for a product and its market price.

Explanation:

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Answer 2

Answer:

A surplus is when a person, group, or economy has more of a good or service than it actively consumes, allowing it to stockpile or export the remainder.

One real-world example of a surplus is cars in the United States. The U.S. is known for its automotive industry and produces a vast number of vehicles, automotive parts, and accessories each year. The country produces so many car-related goods that it cannot use them all. In 2019, the U.S. exported $58.7 billion worth of passenger vehicles and light trucks

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