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When there is more supply than demand, there is commonly a drop in price of the product in an effort to increase the demand and achieve the equilibrium between supply and demand once again. Supply and demand are like a see-saw. As supply goes down, demand goes up; as demand goes up, supply goes down.
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Earn +20 ptsQ: What happens if there is more supply than demand?
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What happens when the demand is more than supply?
Prices increase and you have inflation.
What happens when demand is greater than demand?
When demand is greater than supply a supply shortage or scarcity arises and prices increase.
What happens to prices when demand is greater than suply?
They rise. Supply & demand.
What happens when supply is greater than demand?
The price declines until demand increases.
When demand is more inelastic than the supply what happens to the burden of a tax?
the consumers pay a larger share of the tax
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