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surplus
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When does shortage and surplus occur?
A shortage occurs when quantity demand exceeds quantity supplied. A surplus occurs when quantity supplied exceeds quantity demanded.
What conditions lead to surplus?
When quantity supplied exceeds quantity demanded at a given price.
When quantity demanded exceeds quantity supplied at a certain price?
You have a situation of over supply, a "glut" and the price falls.
When quantity supplied is more than quantity demanded its called?
A quantity supplied is more than quantity demanded its called A Surplus.
What happens when quantity demanded exceeds quantity supplied?
Graphically, the Y axis is price and the X axis is quantity. The demand curve slopes downward, while the supply curve slopes upward. When quantity demanded exceeds quantity supplied the market is out of equilibrium. As a result, the price of goods increases, thereby decreasing the quantity demanded. This is characterized as a move up along the demand curve and not a shift. Changes in endogenous variables, ie price and quantity, are just movements along the curve.
When does shortage and surplus occur?
A shortage occurs when quantity demand exceeds quantity supplied. A surplus occurs when quantity supplied exceeds quantity demanded.
What conditions lead to surplus?
When quantity supplied exceeds quantity demanded at a given price.
When quantity demanded exceeds quantity supplied at a certain price?
You have a situation of over supply, a "glut" and the price falls.
When quantity supplied is more than quantity demanded its called?
A quantity supplied is more than quantity demanded its called A Surplus.
What happens when quantity demanded exceeds quantity supplied?
Graphically, the Y axis is price and the X axis is quantity. The demand curve slopes downward, while the supply curve slopes upward. When quantity demanded exceeds quantity supplied the market is out of equilibrium. As a result, the price of goods increases, thereby decreasing the quantity demanded. This is characterized as a move up along the demand curve and not a shift. Changes in endogenous variables, ie price and quantity, are just movements along the curve.
What happen when quantity supplied exceeds quantity demanded?
Graphically, the Y axis is price and the X axis is quantity. The demand curve slopes downward, while the supply curve slopes upward. When quantity demanded exceeds quantity supplied the market is out of equilibrium. As a result, the price of goods increases, thereby decreasing the quantity demanded. This is characterized as a move up along the demand curve and not a shift. Changes in endogenous variables, ie price and quantity, are just movements along the curve.
At equilibrium price the quantity is demanded always equal to the quantity supplied?
Yes, the equilibrium price equates the quantity supplied to the quantity demanded.
When quantity supplied and quantity demanded are equal the market is in?
Equilibrium.
When quantity supplied is greater than quantity demanded there is?
Excess supply.
If quantity demanded is greater than quantity supplied?
it is called a shortage
When quantity demanded is more than quantity supplied?
Shortage occurs
What is it when the quantity supplied is greater than the quantity demanded?
could be shortage
