Asked by
Mikaili Baker
on Nov 05, 2024
Verified
Excess demand results in a surplus.
Excess Demand
A scenario in which the demand for a product or service surpasses the supply available at the existing price.
Surplus
An excess of production or supply over demand.
- Gain insight into the concepts of excess supply and demand and their consequences on the movement of market.
Verified Answer
RK
Learning Objectives
- Gain insight into the concepts of excess supply and demand and their consequences on the movement of market.
Related questions
If Price Is Above the Equilibrium, Then Quantity Supplied Will ...
If Price Is Above the Equilibrium, There Will Be Excess ...
If Price Is Below the Equilibrium, There Will Be Excess ...
If There Is an Excess Supply of a Good,the Problem ...
If Demand Decreases and Supply Increases,the Direction of Change in ...