Surplus

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Surplus is when there is more of something than is needed. Therefore:

  • If there is more budget than needed, there is a budget surplus. If there is too little, there is a budget deficit
  • If a business has more of a product available than its customers want to buy at a particular price, an economist would describe the situation by saying the supply is greater than the demand and there would be a "surplus" of the product at that particular price (see supply and demand). If the business wanted to sell more of the product, it would need to lower the price which could eliminate the surplus. However, a low enough price could create a situation in which customers wanted to purchase more of the product than the business has available, which is also called a shortage.
  • In Marxian economics, there are surplus product and surplus value.
  • Surplus, a 2003 Swedish documentary film about consumerism