The difference between farmer rsquo s output over and above his on farm consumption is known as ........

General Studies (CPO) Indian Economy

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The difference between farmer’s output over and above his on-farm consumption is known as __________.

This questions was previously asked in

SSC CPO 9th Nov 2022 Shift 3

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consumer surplus

marketable surplus

foreign consumption

domestic consumption

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Explanation:

- Option 1: Consumer Surplus

- This refers to the difference between what consumers are willing to pay for a good versus what they actually pay. It relates to consumer satisfaction, not agricultural output.

- Option 2: Marketable Surplus

- This is the extra produce that a farmer sells in the market after retaining enough for personal use. It is the correct term for the excess output over on-farm consumption.

- Correct Answer

- Option 3: Foreign Consumption

- This involves goods or services consumed by foreign entities. It's relevant in international trade, not directly applicable here.

- Option 4: Domestic Consumption

- This refers to goods consumed within a country. It is about total usage within a nation, not applicable here.