A reduction in economic surplus in a society corresponds to
A) an increase in happiness in the society.
B) a decrease in happiness in the society.
C) a decrease in scarcity in the society.
D) a decrease in money in the society.
E) an increase in money in the society.

Question

Quizplus · Accepted Answer

Economic surplus refers to the benefits that a society gains from producing and consuming goods and services. Therefore, a reduction in economic surplus would mean that the society is worse off than before and has lost some of these benefits. This loss of benefits would lead to a decrease in happiness in the society.

A Reduction in Economic Surplus in a Society Corresponds to