Consumer and producer surplus
2.5What the syllabus asks of you
- meaning and significance of consumer surplus
- meaning and significance of producer surplus
- causes of changes in consumer and producer surplus
- significance of price elasticity of demand and of supply in determining the extent of these changes
Drill this topic
Every question on Consumer and producer surplus, untimed, marked as you go.
Make a worksheet
Choose the years and how many questions, then print it with the answers on separate pages.
38 questions
1May / June 2026 · Paper 11 · Q10Show mark scheme →
AS1
BS2
CS3
DS4
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2May / June 2026 · Paper 12 · Q9Show mark scheme →
Aconsumer surplus: between zero and infinity; producer surplus: zero
Bconsumer surplus: infinity; producer surplus: zero
Cconsumer surplus: zero; producer surplus: between zero and infinity
Dconsumer surplus: zero; producer surplus: infinity
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3May / June 2026 · Paper 14 · Q7Show mark scheme →
AThe amount of the good left unsold when supply of a product exceeds demand for the product.
BThe amount of goods purchased in a buffer stock scheme when prices are low.
CThe difference between a point on a production possibility curve and a point inside it.
DThe difference between the price a producer is willing to accept and the price that is actually paid.
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4Oct / Nov 2025 · Paper 11 · Q15Show mark scheme →
AUWY
BUVZ
CZVWY
DZVXY
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5Oct / Nov 2025 · Paper 12 · Q6Show mark scheme →
Athe amount of a consumer's income less the amount paid in income tax
Bthe amount of a consumer's income less the amount paid for goods and services
Cthe amount of a consumer's income received in bonuses and overtime pay
Dthe amount a consumer is willing to pay for a product less the amount actually paid
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6Oct / Nov 2025 · Paper 14 · Q10Show mark scheme →
Aconsumer surplus: increases by U; producer surplus: increases by S + T + U
Bconsumer surplus: falls by S + T; producer surplus: falls by W + X
Cconsumer surplus: falls from S + T + U; producer surplus: falls by Y + Z
Dconsumer surplus: falls to R; producer surplus: falls to S + V
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7May / June 2025 · Paper 11 · Q10Show mark scheme →
A
B
C
D
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8May / June 2025 · Paper 12 · Q9Show mark scheme →
Acost of production
Bmaximum price
Cminimum price
Dsubsidy
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9May / June 2025 · Paper 13 · Q7Show mark scheme →
AWYX
BXYO
CWYO
DOYZ
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10Feb / March 2025 · Paper 12 · Q7Show mark scheme →
AOX represents the price above which no producer wishes to stay in the market.
BOZ represents the minimum price consumers are prepared to pay.
CPYZ represents the total consumer surplus.
DXYZ represents the total producer surplus.
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11Oct / Nov 2024 · Paper 11 · Q7Show mark scheme →
Aan increase in consumer incomes
Ban increase in the number of substitute goods
Can increase in the price of a complementary good
Dan increase in the price of the good
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12Oct / Nov 2024 · Paper 12 · Q10Show mark scheme →
Aconsumer surplus decreases by s; producer surplus increases by s + u – t
Bconsumer surplus decreases by s; producer surplus increases by u + v – w
Cconsumer surplus decreases by s + t; producer surplus increases by s + t – v
Dconsumer surplus decreases by s + t; producer surplus increases by s + z – v
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13Oct / Nov 2024 · Paper 13 · Q10Show mark scheme →
Aconsumer surplus RST; producer surplus TUOG; total consumer expenditure STEU
Bconsumer surplus RST; producer surplus UST; total consumer expenditure STGO
Cconsumer surplus RTU; producer surplus UTE; total consumer expenditure STGO
Dconsumer surplus RTEU; producer surplus TEF; total consumer expenditure RFU
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14May / June 2024 · Paper 11 · Q9Show mark scheme →
Aconsumer surplus: the value that consumers gain from consuming a good over and above the value that would have been gained from consuming the next best alternative; producer surplus: the difference between the actual revenue received by firms for a good and the profit maximising revenue
Bconsumer surplus: the value that consumers gain from consuming a good over and above the price paid; producer surplus: the difference between the price received by firms for a good or service and the price at which they would have been prepared to supply that good
Cconsumer surplus: the value that consumers gain from consuming a good over and above the price paid; producer surplus: the difference between the actual revenue received by firms for a good and the profit maximising revenue
Dconsumer surplus: the value that consumers gain from consuming a good over and above the value that would have been gained from consuming the next best alternative; producer surplus: the difference between the price received by firms for a good and the price at which they would have been prepared to supply that good
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15Feb / March 2024 · Paper 12 · Q11Show mark scheme →
APWU
BPVW
COUWQ
DOPWQ
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16Oct / Nov 2023 · Paper 11 · Q5Show mark scheme →
AIt is above the supply curve and below the equilibrium price line.
BIt is above the supply curve and below the demand curve.
CIt is below the demand curve and above the equilibrium price line.
DIt is below the supply curve and above the horizontal axis.
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17Oct / Nov 2023 · Paper 12 · Q7Show mark scheme →
A$100
B$150
C$200
D$250
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18Oct / Nov 2023 · Paper 13 · Q5Show mark scheme →
Aconsumer surplus WXY; consumer expenditure OXY
Bconsumer surplus WXY; consumer expenditure OXYZ
Cconsumer surplus WYO; consumer expenditure OXYZ
Dconsumer surplus WYO; consumer expenditure OYZ
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19May / June 2023 · Paper 11 · Q6Show mark scheme →
Athe excess profit earned by the producer of a good
Bthe opportunity cost to the consumer of not buying a good
Cthe price the marginal consumer is willing to pay for a good
Dthe consumer’s gain from purchasing a good at a price below what they are willing to pay
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20May / June 2023 · Paper 11 · Q8Show mark scheme →
AGMNH
BJGM
CJHN
DJNR
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21May / June 2023 · Paper 13 · Q14Show mark scheme →
Aminimum price level $18, price elasticity of demand for tickets –0.5
Bminimum price level $18, price elasticity of demand for tickets –1.5
Cminimum price level $22, price elasticity of demand for tickets –0.5
Dminimum price level $22, price elasticity of demand for tickets –1.5
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22Feb / March 2023 · Paper 12 · Q12Show mark scheme →
Ax
By
Cx + y
Dx – y
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23Oct / Nov 2022 · Paper 11 · Q11Show mark scheme →
Aconsumer surplus falls; producer surplus falls
Bconsumer surplus falls; producer surplus rises
Cconsumer surplus rises; producer surplus falls
Dconsumer surplus rises; producer surplus rises
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24Oct / Nov 2022 · Paper 12 · Q10Show mark scheme →
Afrom 1 to (1 + 2)
Bfrom 1 to (1 + 2 + 3 + 4)
Cfrom (1 + 2) to (1 + 2 + 3)
Dfrom (1 + 2) to (2 + 3 + 4 + 5)
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25Oct / Nov 2022 · Paper 13 · Q6Show mark scheme →
AConsumers benefit from rice production more than producers.
BConsumer demand for rice exceeds supply.
CSome consumers would be willing to pay more than the market price for rice.
DThe production of rice exceeds the supply.
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26Oct / Nov 2022 · Paper 13 · Q7Show mark scheme →
AOWYZ minus OWY
BOWYZ minus OYZ
COXYZ minus OYZ
DOXYZ minus WXY
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27May / June 2022 · Paper 11 · Q6Show mark scheme →
Aa decrease in the demand for carrots
Ba decrease in the price of carrot seed
Ca decrease in the price of cabbage
Da decrease in the subsidy on carrots
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28May / June 2022 · Paper 11 · Q10Show mark scheme →
ADemand is perfectly elastic.
BDemand is perfectly inelastic.
CSupply is perfectly elastic.
DSupply is perfectly inelastic.
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29May / June 2022 · Paper 12 · Q6Show mark scheme →
AIt falls from ABE to A.
BIt falls from CDFG to BCD.
CIt increases from CF to BCEF.
DIt increases from CF to BCEFH.
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30May / June 2022 · Paper 13 · Q11Show mark scheme →
AIt is the amount by which the price consumers are willing to pay exceeds the market price.
BIt is the difference between the price consumers are willing to pay and the price producers are willing to supply.
CIt is the discount firms offer to the consumers for buying goods in bulk.
DIt is the excess of quantity demanded of a product over its quantity supplied at a given price.
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31May / June 2022 · Paper 14 · Q10Show mark scheme →
AP2X2Q2O
BP1X1Q1O
CP1X1X2P2
DXX1Q1O
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32Oct / Nov 2021 · Paper 11 · Q8Show mark scheme →
AIt leaves it unchanged.
BIt lowers it by $2.
CIt raises it by $4.
DIt raises it by $34.
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33Oct / Nov 2021 · Paper 12 · Q13Show mark scheme →
Aconsumer surplus FMH; producer surplus HMK
Bconsumer surplus FMH; producer surplus OKMT
Cconsumer surplus GNJ; producer surplus HMNJ
Dconsumer surplus GNJ; producer surplus JNK
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34Oct / Nov 2021 · Paper 13 · Q5Show mark scheme →
Ano / no
Bno / yes
Cyes / no
Dyes / yes
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35May / June 2021 · Paper 11 · Q9Show mark scheme →
AV + W + X
BV + W + Z
CW + X + Y
DX + Y + Z
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36May / June 2021 · Paper 12 · Q11Show mark scheme →
APrivate companies choose to prioritise profits over customer needs.
BPrivate companies start to pay dividends out of profits.
CThe government fixes the price of electricity below the market price.
DThe private company supply curve becomes more elastic.
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37May / June 2021 · Paper 13 · Q12Show mark scheme →
AThe landowner gains a surplus of Y + Z.
BThe motorist gains a surplus of X + Y.
CThe ownership of surplus Y changes.
DThere is a total surplus of X + Y + Z.
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38Feb / March 2021 · Paper 12 · Q8Show mark scheme →
Awhen a consumer does not spend all of her income each month
Bwhen a consumer pays less than they are willing to pay for a good
Cwhen a consumer throws away vegetables because they bought too much
Dwhen a good is purchased in order to resell it at a higher price
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