Study Notes

Explaining Consumer Surplus

Level:
AS, A-Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Last updated 1 Jul 2018

What is consumer surplus?

When there is a difference between the price that you pay in the market and the value that you place on the product, then the concept of consumer surplus becomes a useful one to look at. This is an important idea that you can use on many occasions in your exams.

Exam question on changes in consumer and producer surplus

© 2002-2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.