What you’ll learn4 learning objectivesChoose one objective for a focused lesson, or study the complete topic.2.5.1Consumer surplus• Meaning and significance of consumer surplusSyllabus objective2.5.2Producer surplus• Meaning and significance of producer surplusSyllabus objective2.5.3Surplus changes• Causes of changes in consumer and producer surplusSyllabus objective2.5.4Elasticity and surplus changes• Significance of price elasticity of demand and of supply in determining the extent of these changesSyllabus objective