A surplus of a product will arise when price is:

A) above equilibrium,with the result that quantity demanded exceeds quantity supplied.
B) above equilibrium,with the result that quantity supplied exceeds quantity demanded.
C) below equilibrium,with the result that quantity demanded exceeds quantity supplied.
D) below equilibrium,with the result that quantity supplied exceeds quantity demanded.

Above Equilibrium

Above Equilibrium describes a condition where the price of a good or service is higher than the equilibrium price, leading to a surplus of supply over demand.

Quantity Demanded

It is the specific amount of goods or services that consumers are willing and able to purchase at a given price point, at a specific time.

Quantity Supplied

The total quantity of goods or services that businesses are ready and willing to sell at a designated price for a fixed period.