For the opposite, see excess demand.
In economics, excess supply (also called surplus) is when quantity supplied is more than quantity demanded, and the price is above the equilibrium level. Specifically, there is a overproduction of supply that producers wish to sell due to a shortage in demand for the product.
Read more about Excess Supply: Prices, Disequilibrium of Excess Supply, Utilizing The Concept of Excess Supply, See Also
Famous quotes containing the words excess and/or supply:
“Excess of liberty, whether it lies in state or individuals, seems only to pass into excess of slavery.”
—Plato (c. 427–347 B.C.)
“Local television shows do not, in general, supply make-up artists. The exception to this is Los Angeles, an unusually generous city in this regard, since they also provide this service for radio appearances.”
—Fran Lebowitz (b. 1950)