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 DemandDemand 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. |