What does a budget surplus mean?
AnswerIncome is greater than spending
A surplus is money left over after spending.
Money · Facts & stats
Surplus facts & stats
7 fact-checked facts about surpluses in economics, trade and everyday life, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
In a market, a surplus happens when what occurs?
AnswerQuantity supplied exceeds quantity demanded
Extra unsold goods pile up when supply outruns demand.
Going deeper
What is producer surplus?
AnswerThe gap between the price sellers get and the lowest price they would accept
It measures sellers' benefit from receiving more than their minimum.
A country has a trade surplus when what happens?
AnswerIts exports exceed its imports
Selling more abroad than it buys creates a trade surplus.
A price floor set above the market equilibrium tends to create what?
AnswerA surplus
Higher prices raise supply and lower demand, leaving extra goods.
Expert level
Which economist popularized 'consumer surplus' in his 1890 book Principles of Economics?
AnswerAlfred Marshall
Alfred Marshall's textbook made the idea standard.
What is 'deadweight loss'?
AnswerTotal surplus lost when a market does not reach its efficient quantity
It is value that neither buyers nor sellers capture.
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