What is consumer surplus?

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Consumer surplus is defined as the difference between the consumers' willingness to pay for a commodity and the actual price paid by them, or the equilibrium price.
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An economic measure of consumer satisfaction, which is calculated by analyzing the difference between what consumers are willing to pay for a good or service relative to its market price. A consumer surplus occurs when the consumer is willing to pay more for a given product than the current market pr...
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BBA | BMS | MBA & Commerce Tutor with an Online teaching experience since 2010

Consumer surplus explains our overall economic well being. The more the consumer is in surplus the more well being the economy is as a consumer is willing to spend more than required ,it may be called as luxury.
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Chartered Accountant - Commerce class tuition teacher

Consumer surplus means monetary gain obtained by consumers This is because they are able to purchase a product (say Rs. 50) for a price that is less than the highest price that they would be willing to pay (say Rs. 55). Hence Rs. 5 is consumer surplus
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Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the demand curve) and the total amount that they actually do pay (i.e. the market price).
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all in one

Consumer surplus is the difference between the total amount that consumers are willing to pay for goods or service and the total amount actually they pay.
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It is the total amount that the consumer's are willing and able to pay for a good and service and the total amount that they actually pay.
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Business Relations

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay
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MBA, BBA Business studies and Economics tution

Consumer surplus is the difference between the amount the consumer willing to pay or able to pay and the consumer actually pay for the same.
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B A Tution

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the demand curve) and the total amount that they actually do pay (i.e. the market price). DEFINITION of 'Consumer Surplus' An economic measure of consumer satisfaction,...
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Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the demand curve) and the total amount that they actually do pay (i.e. the market price). DEFINITION of 'Consumer Surplus' An economic measure of consumer satisfaction, which is calculated by analyzing the difference between what consumers are willing to pay for a good or service relative to its market price. A consumer surplus occurs when the consumer is willing to pay more for a given product than the current market price. INVESTOPEDIA EXPLAINS 'Consumer Surplus' Consumers always like to feel like they are getting a good deal on the goods and services they buy and consumer surplus is simply an economic measure of this satisfaction. For example, assume a consumer goes out shopping for a CD player and he or she is willing to spend $250. When this individual finds that the player is on sale for $150, economists would say that this person has a consumer surplus of $100. read less
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