excess demand

Excess Demand

Demand for a good or service well over supply. Excess demand leads to high prices for the good or service.

excess demand

see EQUILIBRIUM MARKET PRICE.

Fig. 64 Excess demand.

excess demand

shortages

a situation in which the quantity demanded (see DEMAND) of a product (OQ2 in Fig. 64) exceeds the quantity supplied (see SUPPLY) (OQ1) at the existing market price (OP). In competitive markets there will be an upward pressure on price, reflecting a shortage of the product, but where the price is controlled the excess could persist. See EQUILIBRIUM MARKET PRICE, Fig. 64 Excess demand. See entry.

EXCESS SUPPLY, PRICE CONTROLS.

单词	excess demand
释义	excess demand excess demand n (Economics) economics a situation in which the market demand for a commodity is greater than its market supply, thus causing its market price to rise excess demand Excess Demand Demand for a good or service well over supply. Excess demand leads to high prices for the good or service. excess demand see EQUILIBRIUM MARKET PRICE. Fig. 64 Excess demand. excess demand or shortages a situation in which the quantity demanded (see DEMAND) of a product (OQ2 in Fig. 64) exceeds the quantity supplied (see SUPPLY) (OQ1) at the existing market price (OP). In competitive markets there will be an upward pressure on price, reflecting a shortage of the product, but where the price is controlled the excess could persist. See EQUILIBRIUM MARKET PRICE, Fig. 64 Excess demand. See entry. EXCESS SUPPLY, PRICE CONTROLS.
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