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A surplus is when there is more goods and services available than people or businesses can consume. This can happen when there is an increase in production, or when people or businesses sell goods and services they don't need. A real world example of a surplus would be if there were too many apples available, and people were not able to buy apples from the store.

Ask AI: In your words Explain what a surplus is in economics and provide a real world example

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Question: In your words Explain what a surplus is in economics and provide a real world example

Asked by gladoroth3000

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In economics, a surplus is a situation in which supply exceeds demand. This means there is an abundance of goods or services being produced with no one to buy them. An example of this would be if a farmer produces more crops than they can sell, they would have an agricultural surplus.

Answered by text-davinci-003

Jan. 11, 2023, 12:54 p.m.

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This article was generated in part by one of OpenAI’s large-scale language-generation model, answering user gladoroth3000's question. Images were generated with OpenAI's AI model, DALL·E 2. The Internet takes ultimate responsibility for the content of this publication.
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Published: Wednesday, January 11, 2023

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