Surplus
A situation in which the quantity of a good supplied is more than the quantity demanded
Real World Example
In history, the concept of surplus was crucial for early farmers and city dwellers because it meant they could produce more food than they needed for immediate survival. This allowed them to store food for future use, support larger populations, and engage in trade with others. Surplus responded to the problem of food scarcity and uncertainty, helping communities thrive and develop more complex societies. Today, the concept of surplus still matters as it affects how we manage resources and plan for unexpected events. For example, having a surplus of canned goods at home means you can share with neighbors during a storm, ensuring everyone has enough to eat even when stores run low.
