Producer Surplus
The difference between the price that producers are willing to accept to supply a particular quantity of a good and the market price.
Suppose you know how to make beaded necklesses which you are willing to sell for $2 per neckless. However, your friends are willing to pay $5 per neckless. You have gained a producer surplus of $3 per neckless.
Suppose you know how to make beaded necklesses which you are willing to sell for $2 per neckless. However, your friends are willing to pay $5 per neckless. You have gained a producer surplus of $3 per neckless.