A surplus exists

Question

A surplus exists

Quizplus · Accepted Answer

A surplus occurs when quantity supplied exceeds quantity demanded, meaning that there are more goods available than consumers are willing to buy at the given price. The opposite of a surplus is a shortage, which occurs when quantity demanded exceeds quantity supplied. The market is in equilibrium when the quantity supplied is equal to the quantity demanded, and there is neither a surplus nor a shortage. Therefore, choices A and B are incorrect. Choice D is the opposite scenario of a surplus and is incorrect.

A Surplus Exists