Surpluses are the same thing as excess:

Name: Surpluses are the same thing as excess:
Brand: Quizplus
Rating: 4.9 (53 reviews)

Question

Quizplus · Accepted Answer

Surpluses are the result of excess supply caused by price floors, where the mandated minimum price is above the equilibrium price, causing an increase in supply and a decrease in demand, resulting in unsold goods. Option A and B are incorrect as they imply surpluses are caused by excess demand, which is not the case. Option D is also incorrect as price ceilings result in shortages, not surpluses.

Surpluses Are the Same Thing as Excess