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When the quantity demanded is greater than the quantity supplied what is it?
could be shortage
If quantity demanded is greater than quantity supplied?
it is called a shortage
When quantity demanded is greater than quantity supplied the price will?
the price increase
When equilibrium demanded is greater than quantity?
No. Equilibrium is when supply and demand are equal
What happens to the price when the quantity supplied is greater than the quantity demanded?
When quantity supplied is more than quantity demanded price falls, upto the point at which some suppliers decide they would rather not sell the product at that low price. If the supply quantity is still more (after the above mentioned supplies have been taken out of the market) than quantity demanded, then price continues to fall upto the level where he next supplier takes supplies out of the market. Also to be noted is that, when price falls, demand increases. This continues to happen until, the quantity supplied equals demand. This method generally works for most commodities, because the suppliers could store the commodity for future use. Also the general assumption is at a price of $ 0, the demand is infinite. But depending of the commodity there could be other effects, especially price floors due to substitute uses for the commodity etc.
When quantity supplied is greater than quantity demanded there is?
Excess supply.
When the quantity demanded is greater than the quantity supplied what is it?
could be shortage
If quantity demanded is greater than quantity supplied?
it is called a shortage
What is it when the quantity supplied is greater than the quantity demanded?
could be shortage
When quantity demanded is greater than quantity supplied the price will?
the price increase
When equilibrium demanded is greater than quantity the market prices will what?
rise
What does in demand mean?
the quantity demanded at each price in a set of prices is greater
When equilibrium demanded is greater than quantity?
No. Equilibrium is when supply and demand are equal
What happens to the price when the quantity supplied is greater than the quantity demanded?
When quantity supplied is more than quantity demanded price falls, upto the point at which some suppliers decide they would rather not sell the product at that low price. If the supply quantity is still more (after the above mentioned supplies have been taken out of the market) than quantity demanded, then price continues to fall upto the level where he next supplier takes supplies out of the market. Also to be noted is that, when price falls, demand increases. This continues to happen until, the quantity supplied equals demand. This method generally works for most commodities, because the suppliers could store the commodity for future use. Also the general assumption is at a price of $ 0, the demand is infinite. But depending of the commodity there could be other effects, especially price floors due to substitute uses for the commodity etc.
What does increase in demand mean?
the quantity demanded at each price in a set of prices is greater
How does quantity supplied of a good with a large elasticity of supply react to price change?
It will be very sensitive to price change. A change in the price will change the quantity supplied by a factor greater than 1. ps: Price elasticity of supply= (% change in quantity supplied)/(% change in price)
When the percent change in price is greater than the percent change in quantity demanded demand is said to?
Elastic
