answersLogoWhite

0


Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: If supply exceeds demand for a product what economic explanation occers?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

If supply exceeds demand for a product what economic explanation occurs?

prices decrease


If supply exceeds demand for a product what economic explation occurs?

demand decreases and price will decrease.


What is demand products?

Product demand is an economic term. The product demand describes the desire for a particular product that the public has.


If demand increaces what economic explanation occurs?

If Demand is one the increase, it means that people have surplus income to spare. This is good indicator of economic growth.


What two things make a product have value?

The principle of "supply and demand". If the supply of a product is higher than the demand, the product is worth less due to its availability. Conversely, if the demand exceeds the supply, then the products is worth more due to its rarity.


With reference to the circular flow model of the economy explain what happens to economic growth unemployment and inflation when injections exceed withdrawals or leakages?

When injection exceeds leakage aggregate demand will high it followed by high employment , with rise in price economic growth will ensures . For detail explanation you can take from Tutorpace


What is observed when demand exceeds supply?

Typically, a shortage of the product/service will result with the resultant outcome being an increase in price.


If demand increases and supply decreaseswhat economic explanation occurs?

Supply will decrease and the price will rise greatly.


Consumers who are willing and able to purchase a product of service create an economic situation referred to as what?

demandconsumption


What is soft budget constraint?

In organizations, soft budget constraints are used to describe shortages of certain items. It is used to describe that there is an overwhelming demand for a certain product and the demand exceeds the amount of the product being made or manufactured.


What can cause shortages or surpluses of goods and services?

over production can lead to a surplus of goods and/or services, and shortages can occur when demand for a product exceeds the productions of said product


What factors can impact the planning process?

Consumer demand, time, type of product or product design , the economic and processes