Consumer Surplus and Producer Surplus

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The additional benefits enjoyed by consumers pay less than they are willing to pay and by producers who sell for a price higher than they are willing to sell for are known as consumer and producer surplus. Together they make up the "total welfare" of a market. This lesson introduces and explains these concepts, important for understanding what makes the market system effective at meeting society's wants and needs.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! econclassroom.com/?page_id=5870

Пікірлер: 25

@thisisyoutubetv3235 Жыл бұрын

Love the groovy intro 💃

@fajrabbas6653 5 жыл бұрын

You're an amazing teacher. God bless you!

@karan_karan_karan 3 жыл бұрын

I LOVE YOU! THANK YOUUU THIS CLEARED THIS UP FOR ME. I LITERALLY SPEND THE WHOLE DAY RE READING THIS CHAPTER IN MY TEXTBOOK THAT COVERS THIS AND COULD NOT UDNERSTAND IT.. IDK WHY??? BUT AFTER WATCHING THIS AT 2 AM I GET IT!! thank you jason!!!

@asogwaekene6129 7 ай бұрын

Your explanations are concise and straight to the point. Thank you so much for this

@shuzhen 2 жыл бұрын

Very good explanation and summary. Way better than what was taught in classes :)

@AlexetRex 2 жыл бұрын

Awesome video, I was having problems understanding this, but after having listened to your video. It was crystal Clear!!!!

@miissmooshie1015 6 жыл бұрын

Thank you, this was very well explained and helped me in my studies!

@joycelinitza4286 6 жыл бұрын

Thank you! This video was really helpful!

@desreeisibor5855 4 жыл бұрын

I just grasped this concept !!! Thanks so much for this😊😊

@theophilusmfum9246 2 жыл бұрын

You are amazing teacher, I have simply understand this topic with ease

@andresb9006 5 жыл бұрын

Thank you so much man! this video is very helpful and easy to understand. ;)

@Aj.- 2 жыл бұрын

Great job. Thank you as am preparing for my exam in the next 4hrs

@bhoopendragupta4782 9 ай бұрын

Very clear and to the point explanation. Thanks 👍

@thegrindsetclub6679 2 жыл бұрын

thank you for making this concept easier, please make more videos.

@syedanabeehanizami2507 3 жыл бұрын

awesome explanation sir!

@goldboateng8073 2 жыл бұрын

thanks so much for this video

@thescreenwithyou2000 3 жыл бұрын

Mind-blowing sir

@blueguy7944 5 жыл бұрын

"Beef" fore 5:23 I see what you did there

@thl991 Жыл бұрын

Are producer surplus and consumer surplus equal at equilibrium point?thanks😊

@zachthomas1084 3 жыл бұрын

Good Job Bro

@nikolassourris5080 2 жыл бұрын

this man is goated

@MuhammadTahir-ph3gs 6 жыл бұрын

if government fixed the price of any goods then there is producer surplus or consumer surplus. give reson plz

@realdvgarg 4 жыл бұрын

You're question is framed incorrectly. Consumer and producer surplus will always exist, but can change depending on the type of government intervention. In the case of price floors and price ceilings, as you mention government fixed prices, the effect is dependent on various factors.