Economics A-Level
Excess demand
What Excess demand means in Economics A-Level, as defined for AQA.
Definition of Excess demand
Check what you remember
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Reference: AQA
A shortage existing when the price is below equilibrium, with consumers bidding up the price to secure the limited goods available.
Topics that use Excess demand
- The determination of equilibrium market prices (AQA A-Level)
Related terms
- Ceteris paribus
- Disequilibrium
- Economic shocks
- Equilibrium
- Excess supply
- Incentive function
- Market clearing
- Market equilibrium
Using Excess demand in the exam
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