Excess demand exists when

quantity supplied is greater than quantity demandedCorrect answerYour answerdemand equals supplyCorrect answerYour answerquantity demanded is greater than quantity supplied at the current priceCorrect answerYour answerdemand is zeroCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer C

Correct answer: C

Excess demand is a shortage: buyers want more than sellers offer at that price.
It happens at prices below the equilibrium price.

Concept: Excess demand
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsExcess demand and excess supply

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Ten questions from Market Equilibrium & Price Controls, at your own pace.

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Excess demand exists when

Explanation