Question

Both excess supply and excess demand are a result of

Answer 1

Both excess supply and excess demand are a result of disequilibrium.

Answer 2

When there is excess supply or excess demand is called "market imbalance"

always customers want to buy cheaper products and traders sell more expensive products but you have to have a POINT OF EQUILIBRIUM, this is when you adjust the market so that the price of the product is fair and benefits everyone.

But when there is a lot of product at a very low price (excess supply) traders lose or when there is little product the price is very expensive (excess demand) damaging the customer

i hope it help you