Business
Niah8
2021-01-11 08:32:27
A situation in which quantity demanded is greater than quantity supplied best describes a. excess supply. b. shortage. c. equilibrium of demand. d. surplus.
ANSWERS
SandyTeti484
2021-01-11 11:12:48

Shortage is a situation in which quantity demanded is greater than quantity supplied. When quantity supplied is equal to quantity demanded, it is called equilibrium of demand. Both supply and demand are equal. When quantity supplied is greater than quantity demanded, it is called surplus. Excess supply of goods are called surplus.  

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