surplus

(noun)

specifically, an amount in the public treasury at any time greater than is required for the ordinary purposes of the government

Related Terms

  • cardiovascular
  • flux

Examples of surplus in the following topics:

  • Applications to Economics and Biology

    • In mainstream economics, economic surplus (also known as total welfare or Marshallian surplus) refers to two related quantities.
    • Consumer surplus is the monetary gain obtained by consumers; they are able to buy something for less than they had planned on spending.
    • Producer surplus is the amount that producers benefit from selling at a market price that is higher than their lowest price, thereby making more profit .
    • In calculus terms, consumer surplus is the derivative of the definite integral of the demand function with respect to price, from the market price to the maximum reservation price—i.e. the price-intercept of the demand function:
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