Consumer surplus refers to the difference between how much a consumer is willing to pay for a good or service and the actual amount they pay, representing the extra satisfaction or benefit they receive. It is measured as the amount consumers save when they purchase items for less than what they would be willing to spend. Examples of consumer surplus include paying less than willing amounts for daily items like salt, newspapers, or matches.

2. 3.Consumer surplus Meaning
 The price which a consumer pays for a commodity is always less
than what he is willing pay for it, so that the satisfaction which he
gets from its purchase is more than the price paid for it and thus he
derives a surplus satisfaction which Marshall calls Consumer’s
Surplus. Instances of commodities from which we derive
consumer’s surplus in our daily life are salt, news
papers, postcard, matches, etc.
 consumer’s surplus can be defined as the difference between what a
consumer is willing to pay for a commodity and what he actually
does pay for it.

3.  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.

4. Table: Explaining Consumer’s Surplus
X
units
Price willing
to pay
Actual price Consumer
Surplus
1 10 4 6
2 8 4 4
3 6 4 2
4 4 4 0
Total 28 16 12