Explain the relationship between the demand curve and consumer surplus. AP Microeconomics Graphing Practice: Draw a correctly labeled supply and demand graph for the market for shirts.

Consumer surplus: When consumers buy products for less than they're willing to pay, the difference is a consumer surplus. If you purchase a pair of shoes for $100 when you had budgeted $175, your ...

During recessions, when consumer demand declines, budget deficits follow. As of 2024, the last period in which the U.S. federal government had a budget surplus was 2001. A trade deficit is not ...

Demand is generally considered to slope downward: at higher prices, consumers buy less. The point at which the two curves intersect represents the market-clearing price—the price at which demand and ...