what is excess demand?
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In economics, a shortage or excess demand is a situation in which the demand for a product or service exceeds its supply in a market. It is the opposite of an excess supply.
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The situation in an economy, when Aggregate Demand is more than the Aggregate Supply corresponding to full employment level is termed as excess demand. In other words, the level of Aggregate Demand exceeds the level of Aggregate Supply even when there is full capacity production in the economy.07-Dec-2019
Explanation:
economics a situation in which the market demand for a commodity is greater than its market supply, thus causing its market price to rise.
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