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Define excess demand. - Economics

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Question

Define excess demand.

Definition
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Solution

The amount by which quantity demanded exceeds the quantity supplied is called ‘excess demand’.

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Chapter 6: Market Mechanism: Equilibrium Price and Quantity in a Competitive Market - TEST YOURSELF QUESTIONS [Page 114]

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Frank Economics [English] Class 12 ISC
Chapter 6 Market Mechanism: Equilibrium Price and Quantity in a Competitive Market
TEST YOURSELF QUESTIONS | Q 5. | Page 114
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