Consumer's surplus
Consumer's surplus Consumer's surplus (Polit. econ.) The excess that a purchaser would be willing to pay for a commodity over that he does pay, rather than go without the commodity; -- called also

{consumer's rent}.

The price which a person pays for a thing can never exceed, and seldom comes up to, that which he would be willing to pay rather than go without it. . . . The excess of the price which he would be willing to pay rather than go without it, over that which he actually does pay, is the economic measure of this surplus satisfaction. It has some analogies to a rent; but is perhaps best called simply consumer's surplus. --Alfred Marshall. [Webster 1913 Suppl.]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • consumer’s surplus — /kənˌsju:məz sɜ:pləs/ noun the difference between what a consumer is willing to pay for something and what he or she actually does pay for it ● When the brand manager realised how big the consumer’s surplus was she decided to raise the price of… …   Marketing dictionary in english

  • consumer's surplus — noun also consumer s rent : the amount above the actual price of a commodity a purchaser would pay in order not to go without the commodity …   Useful english dictionary

  • consumer's surplus — In economics, the difference between the total amount consumers would be willing to pay to consume the quantity of goods transacted on the market and the amount they actually have to pay for those goods. The former is generally interpreted as the …   Universalium

  • consumer`s surplus — difference between the benefit a customer derives from a product and the price paid for it …   English contemporary dictionary

  • consumer's rent — Consumer s surplus Consumer s surplus (Polit. econ.) The excess that a purchaser would be willing to pay for a commodity over that he does pay, rather than go without the commodity; called also {consumer s rent}. The price which a person pays for …   The Collaborative International Dictionary of English

  • consumer's rent — noun see consumer s surplus …   Useful english dictionary

  • producer's surplus — noun also producer s rent : the payment received by a producer or seller in excess of the least sum he would have been willing to accept to make the sale compare : consumer s surplus …   Useful english dictionary

  • buyer's surplus — UK US noun [U or C] (also consumer surplus) ► ECONOMICS the difference between the actual price of an item and the price that a buyer would be willing to pay: »Buyer s surplus is a measure of the satisfaction you gain from a purchase. → Compare… …   Financial and business terms

  • consumer surplus — ▪ economics also called  social surplus  and  consumer s surplus        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 first developed by Jules… …   Universalium

  • Surplus du consommateur — Le surplus du consommateur est la différence entre ce qu un consommateur est prêt à payer pour un bien et le montant effectivement payé. Sommaire 1 Le surplus du consommateur 2 Les variations compensée et équivalente 3 Le surplus du producteur …   Wikipédia en Français

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