Question

When do we say that there is an excess supply for a commodity in the market?

Answer 1

$\huge\mathfrak\green {Answer}$

✔Excess supply is a market condition when the quantity supplied is greater than the demand for a commodity at rhe prevailing market price.

Answer 2

Answer:

Excess supply is a situation when the supply of a commodity in the market exceeds its demand at a particular price. In other words, if at any price level, all the consumers demand comparatively less quantity than what is being supplied by all the suppliers, then we face the situation of excess supply.