Topic Videos
Understanding Consumer Surplus
- Level:
- AS, A-Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 15 Dec 2020
Consumer surplus is a measure of the economic welfare that people gain from consuming goods and services.
Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service (shown by the demand curve) and the total amount they actually do pay (i.e. the market price).
Consumer surplus is indicated by the area under the demand curve and above the market price.
You might also like
Key Summary on Market Structures
Study Notes
Monopoly and Welfare: Over-pricing for school uniforms
16th October 2015
Welfare and incentives: The Silver Lining of Unemployment Benefits
6th November 2015
Credence goods and misbehaviour by unscrupulous sellers
31st January 2017
Government Spending
Study Notes
Price Changes and Consumer Surplus
Study Notes
Indirect Taxes and Producer Surplus
Topic Videos
4.1.5.11 Consumer Surplus (AQA A-Level Economics Teaching PowerPoint)
Teaching PowerPoints
Daily Email Updates
Subscribe to our daily digest and get the day’s content delivered fresh to your inbox every morning at 7am.
Signup for emails