MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Price Floor

Give the mean...

Question

Give the meaning of excess demand for a product.

Open in App

Solution

When market demand exceeds market supply of a commodity at a given price, it is known as excess demand.

Suggest Corrections

thumbs-up

2

Similar questions

Q.
What is meant by excess demand for a product?

Q. Explain the meaning of excess demand and excess supply with the help of a schedule. explain their effect on equilibrium price.

Q. Which of the following is not the reason for excess demand?

Q. State the impact of excess demand on production and employment.

Q. Give meaning of 'deficient demand' in macroeconomics.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Market Interventions and Policy Failures

ECONOMICS

Watch in App

explore_more_icon

Explore more

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon