Another good concept is consumer surplus and producer Surplus, which is the excess value that somebody gets even though they were willing to
pay more the product was priced the
same for everybody. I get a lot of joy out of my morning coffee. Obviously. I made some money if my coffee
cost twenty dollars. I would pay $20 my morning
coffee, but Starbucks doesn't know that it can't price the coffee $20 just
for me because selling the exact same product. So I'm getting a lot of consumer surplus out of the
coffee and all businesses generate consumer. Surplus. It's a good thing to keep in mind when someone's harping about how evil companies are Amazon might be a trillion dollar company, but I will bet you they're generating trillions of dollars in consumer surplus through convenience and willingness to pay
their a lot of people who are willing to pay more than what Amazon charges them for all their services.
