Economics GCSE
Excess supply and demand
What Excess supply and demand means in Economics GCSE, as defined for AQA.
Definition of Excess supply and demand
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Reference: AQA
A price above equilibrium creates excess supply (surplus), while a price below equilibrium creates excess demand (shortage).
Topics that use Excess supply and demand
- Equilibrium price (AQA GCSE)
Related terms
- Determinants of supply and demand
- Disequilibrium
- Equilibrium price
- Excess demand
- Excess supply
- Graphical analysis
- Market clearance
- Market equilibrium
Using Excess supply and demand in the exam
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