Economic Surplus is the overall benefit an economy receives with the selling and purchase of a good or service for a price. As we know the economy is comprised of consumers or buyers and producers or sellers. Economic surplus is divided into two parts: buyer surplus and seller surplus. The buyer surplus or consumer surplus is the amount that a buyer receives from buying a good or service for a price that is less than the price that he or she is willing to pay. In other words consumer surplus is the measure of the welfare that people gain from the consumption of goods and services which are bought for a lesser price than usual. It is the difference between the total amount the consumers are willing to pay and the amount that is actually paid. When the price for a good or a service is perfectly elastic, the surplus will be zero because, the price paid for the product matches the price, the consumers are ready to pay. And when the price is perfectly inelastic, then the consumer surplus is infinite. Demand is totally invariant to a price change, meaning that whatever the price, the quantity demanded remains the same. The seller surplus or producer surplus is the amount that the producer receives from selling a good or a service for an amount that is higher than the price that they are willing to sell. It is the difference between what the producers are willing to sell a good or a service and the price that they actually receive. The more elastic the supply curve, the smaller the amount of producers surplus. If the supply curve is perfectly elastic, then producer surplus is zero since the price at which they are willing to supply is the market price. Our network spans 3 continents and several countries. We offer three kinds of services: Assignment Help, Thesis Help and Online Tuitions for students in their college or University.
And he actually bought me lunch as I found it for him smile Thus let me rephrase that Thanks for lunch! Thank uyou everyone for your commnt s. It is value able definition Compensation and Benefits. I appreciate this effort by NNazir. Am grateful to God for such an opportunity to chance on this write up. I am a level 300 student specializing in HRM. Please educate us more on this topic and also if you could treat something on the advantages and dis advantages on companies who uses hard and soft strategies it will be very helpful to some of us. Wishing u a speedy recovery. I appreciate every comment and every person’s giving time to read the article. God in heaven grant u more knowledge. Also i am confused about that topic so realy thanful. Nice article you have here. Rumesa: All praise to Allah! We cannot do anything if Allah doesn’t want us to.
Opeyemi: Thank you very much for your time and comment. Even my colleague who attended a whole workshop particularly on this topic got confused while explaining the true difference between compensation and benefits, which you have done it so simply and beautifully, while not complicating or over lapping any part. I had really hard time. Thank you v. much but i need u all to help me make it better..and write on things that benefit u professionally as well as personally.. Moses-It’s really an honor for me.. Shashi and ingi yousry for your valuable comments. I thank Allah u find the article interesting. This interesting topic is very well-versed.that’s great. Welcome to the community. And thank you v much for your reading the hub. 439 – You’re Welcome! 8 years ago from Louisiana, The Magnolia and Pelican State. Thank You for and interesting hub. Hi Nazir-I have recently signed with hubpages and happened to come across your article on executive compensation trends more relevant.keep up the good work. A nice hub – basically it all comes down to showing respect and compassion-share value and you will receive value. Very nice information and useful. Thank you for sharing this with us. Excellent explanation of terms. Do expect My next hub ‘Parts of Salary’ soon, Inshallah. Not bad NNazir, when are you writing more hubs? Thank you v. much. These r solely not my facts. I cited the sources from which things were taken. Thank you very much Asif. Your comment is very valuable.
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