ELI5: Explain Like I'm 5

Economic surplus

Economic surplus is like having extra money in your pocket. If you are able to buy something for one price and sell it for a higher price, you have a surplus and more money in your pocket. For example, if you bought a car for $10,000 and then sold it for $15,000, you would have a surplus of $5,000. This is a good thing and means you made more money on the transaction.