Asked by
Mikaili Baker
on Nov 05, 2024
Verified
Excess demand results in a surplus.
Surplus
An excess of production or supply over demand.
Excess Demand
A scenario in which the demand for a product or service surpasses the supply available at the existing price.
- 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.
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