Test 16: A Level Economics: MCQ Revision on Consumer and Producer Surplus

Here is an eight question revision quiz and short revision session video covering aspects of consumer and producer surplus. It is a great way to test your understanding.

Some topics where consumer surplus and producer surplus can be used really well to score good analysis marks

Government interventions

Indirect taxes and subsidies, maximum and minimum prices

Competition v market power
Consequences of changing market concentration on consumer welfare
Impact of price regulation on consumer surplus and industry profits
Collusion and welfare effects for consumers in industries affected

Trade policies
Showing changing consumer and producer surplus as a result of import tariffs, quotas and export subsidies

Link consumer and producer surplus back to economic efficiency ideas