What is consumer surplus?

Excess consumers is a quantity that is difficult to measure, which represents the difference between what one would be willing to pay for the item and the actual price paid. In a microeconomics study, the surplus of consumers is usually represented on the chart and demand as a triangular area under the demand curve and above the market price. It is somewhat related to the excess of the manufacturer, which is basically another term for the profit that the producer does when selling the product. A simple way to think about a consumer surplus is to imagine a lot of experience that we all had as consumers when something cost less than we decided that the maximum we were willing to pay. For example, consider consumers at a fruit stand that wants to buy an apple. There is no published price at the stand, but the person thinks that it will not pay more than $ 0.50 USD Dollars (USD) for Apple. When the seller tells him that Apple costs $ 0.35, the man buys Apple and his excess consumer is the difference$ 0.15.

In fact, this happens every time the purchase is made. When the consumer buys something, the result is that the item was worth more than the money worth the purchase. If this was not the case, it would not happen for sale.

The above example simplifies the nature of consumer surplus compared to how it affects us in the real world. In any given situation, the consumer surplus is almost impossible to accurately quantify for two reasons. The first reason is that it is difficult to get someone to reveal the maximum price that he would be willing to pay for something. The consumer may have not even thought about it in advance, which is what is happening on a food shop for most of us; We buy items for whjejich the price is if it seems to be reasonable.

This leads to the second reason and the fact that most people are not sure of the maximum price for the item to payIli, because our preferences can often change. If you want to use a practical example, an ice cream cone can have much more during the thermal wave than it would be a week later when the weather was cooled. Although it is difficult to measure, consumer surplus is still a very important concept in economics because it measures the profit that the buyer receives from the purchase.