An excess demand for a good or service tends to cause:

Name: An excess demand for a good or service tends to cause:
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Question

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Excess demand means that there are more people who want to buy the good or service than there are sellers willing to sell it. This leads to competition among buyers, which can drive the price up as they are willing to pay more to secure the limited supply of the good or service. Therefore, an excess demand tends to cause an increase in price over time.

An Excess Demand for a Good or Service Tends to Cause