Definition of Excess demand:
Excess of the quantity demanded of a good or service, at a given price, over its supply at that price. Excess demand usually spurs the price higher.
How to use Excess demand in a sentence?
- New Apple products always have excess demand ; people stand in line outside in hopes of purchasing the overpriced product before it sells out.
- The excess demand for our product was experienced because we could not take the risk of excess supply occurring to us.
- Because so many people are in need of the products that I am selling, I can mark the price higher due to the excess demand .
Meaning of Excess demand & Excess demand Definition