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In mainstream economics, economic surplus, also known as total welfare or total social welfare or Marshallian surplus (after Alfred Marshall), is either of two related quantities: Consumer surplus , or consumers' surplus , is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the ...
In V. Gordon Childe's scheme the social surplus exists first, and then the ruling class arises to exploit this surplus. This view assumes that there exists a set quantity of stuff that is needed for social reproduction, and that once primary producers make more than this amount, they have produced a social surplus. There does not, however ...
In economics, an excess supply, economic surplus [1] market surplus or briefly supply is a situation in which the quantity of a good or service supplied is more than the quantity demanded, [2] and the price is above the equilibrium level determined by supply and demand. That is, the quantity of the product that producers wish to sell exceeds ...
Surplus economics is the study of economics based upon the concept that economies operate on the basis of the production of a surplus over basic needs.
If capitals that set in motion unequal quantities of living labour produce unequal amounts of surplus-value, this assumes that the level of exploitation of labour, or the rate of surplus-value, is the same, at least to a certain extent, or that the distinctions that exist here are balanced out by real or imaginary (conventional) grounds of ...
Surplus may refer to: Economic surplus , one of various supplementary values Excess supply , a situation in which the quantity of a good or service supplied is more than the quantity demanded, and the price is above the equilibrium level determined by supply and demand
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Consumer surplus is an economic indicator which measures consumer benefits. [7] [10] [2] The price that consumers pay for a product is not greater than the price they desire to pay, and in this case there will be consumer surplus. For the supply side of economics, the general school of thought is that profit is meant to ensure shareholder yield.