Excess Demand And Excess Supply | Market equilibrium | Microeconomics | Ecoholics

Описание: Excess Supply: Excess Supply refers to a situation in which the market supply of a commodity is more than its market demand at a given price. The situation of excess supply arises when the market price is more than the equilibrium price.

Excess Demand - Excess Demand refers to a situation in which market demand for a commodity is more than its market supply at a given price. The situation of excess demand arises when the market price is less than the equilibrium price.

Market equilibrium - Market Equilibrium is a situation when market demand= market supply. there is no access demand or excess supply in the market

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