Give an example of a shift in consumer and producer surplus. How did it affect the market efficiency?

Answer 1

hurricane Katrina

Answer 2

I think you must have phrased this wrong. Surplus do you mean supply? There is never a shift in surplus..
Surplus only really every happens when price controls are institiuted.. for the most part.
Supply, an example of a supply shift happens with a variety of reasons one being technology. When Henry Ford created the essembly line for a car factory he could take a car that would ussually take 14 hrs. and make it in 90minutes. That made manufacuting cheaper.. prices went down, more people could buy cars, they became the most efficent form of transportation, roads became better, ect. So it was good. Not good for morality because of the sexuality abuse that cars created oppurtunity for.

Answer 3

both of these surpluses were very common in old socialist soviet union.

the supply and demand were decided by a central planning board which decided the supply and demand on almost all consumer and industrial goods. Manufacturing of every good was planned. they were not bothered about the market demand and it caused surpluses @ the consuming these as people didnot intended to have so much goods. this resulted with resource wastage.