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THE SURPLUS
The surplus product is that part of the total output of an economy that is in excess of what is needed for reproducing and replenishing the labor, tools, materials and another inputs used or used up in production. In other words it is what remains after the necessary product has been taken out from the total product.
A way of increasing the surplus is with a labor-saving technical change, which is a new technology that increases the total output produced with a given amount of labor. However, the advantages of a labor-saving technical change can be taken either as an increase in total product with the same amount of labor or the same production with less labor. If you go with the first way then the productivity will increase, so the surplus product. With the use of same production with less labor method the consumption of the producers will be reduced and it will cause an increase of the surplus product.
Another way of increasing the surplus would involve......
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Title: The Surplus
Approximate Word Count: 790
Approximate Pages: 4 (250 words per double-spaced page)
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