The difference between the maximum that consumers would be willing to pay for a good and what they actually do pay. For each unit of the good, this is the vertical distance between the demand curve and price. For all units purchased at some price, it is the area below the demand curve and above the price. Normally useful only as the change in cons...
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in economics, the difference between the price a consumer pays for an item and the price he would be willing to pay rather than do without it. As ... [2 related articles]
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http://www.britannica.com/eb/a-z/c/133
This occurs when people are able to buy a good for less than they would be willing to pay. They enjoy more utility than they had to pay for.
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http://www.encyclo.co.uk/local/20140
This occurs when people are able to buy a good for less than they would be willing to pay. They enjoy more utility than they had to pay for
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http://www.encyclo.co.uk/local/20414
Consumer Surplus is an economic measurement that depicts consumer satisfaction by calculating the difference between the market price of a good and what consumers are willing and able to pay for it. In other words, consumer surplus measures the value that consumers have for a good above or below the current market price.
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https://www.myaccountingcourse.com/accounting-dictionary/accounting-diction
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