Definition of Consumer surplus:
In business, they don't have to pay for customer satisfaction (usability). Or, in other words, the value of goods or services above and beyond the consumer's purchase price.
How to use Consumer surplus in a sentence?
- Some people find that their customers consume more than they need to, so they keep coming back.
- Before we learn more about supply and demand in a business, we need to know about consumer oversupply and how it affects markets.
- When there is excessive consumption, it is time to get more products for use.
Meaning of Consumer surplus & Consumer surplus Definition