what happens when the quantity of a good supplied at a given price is greater than the quantity demanded?\n○…

what happens when the quantity of a good supplied at a given price is greater than the quantity demanded?\n○ excess supply\n○ stable prices\n○ exact equilibrium\n○ increased production

what happens when the quantity of a good supplied at a given price is greater than the quantity demanded?\n○ excess supply\n○ stable prices\n○ exact equilibrium\n○ increased production

Answer

Answer:

excess supply

Brief Explanations:

When the quantity of a good supplied at a given price is greater than the quantity demanded, it is called excess supply. This is a fundamental concept in economics. In a market, if producers supply more of a good than consumers are willing to buy at that price, there is an oversupply situation. This can lead to downward pressure on prices as producers may try to sell the excess inventory. Exact equilibrium occurs when quantity supplied equals quantity demanded. Stable prices are a result of a balanced market (not when there is a disparity between supply and demand as described). Increased production is a possible outcome in some scenarios but not the direct term for when supply quantity exceeds demand quantity at a given price. So, the correct term is excess supply.