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Question
When Do We Say There Is Excess Demand for a Commodity in the Market?
When Do We Say There Is Excess Demand for a Commodity in the Market?
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Solution
When the market demand of a commodity exceeds its market supply at a particular price then there is excess demand for that commodity in the market.
Also read:
- What is Demand?
- Aggregate Demand and Its Components
- Meaning of Demand and Factors Affecting Demand
- Concept of Movement Along the Demand
- Slope of the Demand Curve
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
When the market demand of a commodity exceeds its market supply at a particular price then there is excess demand for that commodity in the market.
Also read:
- What is Demand?
- Aggregate Demand and Its Components
- Meaning of Demand and Factors Affecting Demand
- Concept of Movement Along the Demand
- Slope of the Demand Curve
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
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