In three to four sentences, explain if there is excess supply or demand of goods at the equilibrium price and why.

Question

Maximus Stewart

Chemistry

6 August, 05:24

In three to four sentences, explain if there is excess supply or demand of goods at the equilibrium price and why.

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Joseph Hunter · Answer 1

Equilibrium is where free market activity meets and the costs are set. Since the cost is set as harmony, there won't be an overabundance of either. Be that as it may, on the off chance that you set the cost of balance, you move far from balance and have disequilibrium which can make overabundance supply or abundance request.