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date: 21 August 2019

excess demand 

Source:
A Dictionary of Economics
Author(s):

Nigar Hashimzade,

Gareth Myles,

John Black

The difference between demand and supply. If the excess demand for a good is positive then the quantity of a good demanded exceeds the quantity supplied; if excess demand is negative the converse is true. An economy is in equilibrium if excess demand is absent. If there is excess demand price adjustment must take place for equilibrium to be achieved. ... ...

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