Excess demand occurs when:
A)there is a surplus in the market.
B)supply is in excess of demand at the market price.
C)demand is in excess of supply at the market price.
D)demand and supply are equal at the market price.

Question

Quizplus · Accepted Answer

Excess demand occurs when the quantity of goods demanded by buyers is greater than the quantity of goods supplied by sellers at the given market price. In other words, there aren't enough goods available to satisfy the demand of buyers.

Excess Demand Occurs When