Question

Choose whether each scenario demonstrates equilibrium, excess supply, or excess demand.

excess demand
The price of a product has dropped greatly, and store owners do not have enough of the item to meet demand.


Demand for a new truck is beginning to increase, but car dealerships still have too many of these trucks on their lots.


The price for a popular holiday toy has risen too high, and consumers are not purchasing items in stock in stores.

Answer 1

Choose whether each scenario demonstrates equilibrium, excess supply, or excess demand.

✔ excess demand

The price of a product has dropped greatly, and store owners do not have enough of the item to meet demand.

✔ excess supply

Demand for a new truck is beginning to increase, but car dealerships still have too many of these trucks on their lots.

✔ excess supply

The price for a popular holiday toy has risen too high, and consumers are not purchasing items in stock in stores.

Explanation:

Answer 2

excess demand, excess supply, excess supply