Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Market Equilibrium

Question:
If at a price, market supply is greater than market demand, there is
Options:
Excess demand
Excess supply
Neither excess nor deficient
Deficient supply
Correct Answer:
Excess supply
Explanation:
If at a price, market supply is greater than market demand, we say that there is an excess supply in the market at that price.