Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...

Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...

Understanding the fundamental concepts of economics is vital for any business or individual aiming to make informed decisions in today’s ever-changing market. One of these key concepts is the quantity ...