An excess demand for some product is the same thing as
A) back market.
B) an excess supply.
C) a shortage.
D) a surplus.
E) price ceiling.

Question

Quizplus · Accepted Answer

An excess demand for some product is when the quantity of the product demanded by buyers exceeds the quantity supplied by sellers at the current market price. This creates a shortage, which means the market is unable to supply enough of the product to meet the demand.

An Excess Demand for Some Product Is the Same Thing