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fredd [130]
3 years ago
15

Explain id there is excess supply or demand of goods at the equilibrium price and why? In sentences

Business
1 answer:
enot [183]3 years ago
8 0

Answer by YourHope:


Hi! :)


Question: Explain if there is excess supply or demand of goods at the equilibrium price and why?


Answer: Equilibrium is at the point where supply and demand meet and the prices are set. Since the price is set as a equilibrium, there won't be an excess to either, but if you set the price above equilibrium, you move away from equilibrium and have disequilibrium create excess supply or excess demand!


Have a BEAUTIFUL day~

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There had been a consensus among economists that the Chinese currency has been undervalued in the 15% to 40% range for many years.1 However, the International Monetary Fund (IMF) stated in the summer of 2015 that the Chinese currency was no longer undervalued against the dollar given its recent appreciation.2

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When money, as represented by a currency, is no longer viable as a medium of exchange, or if its monetary units can no longer be accurately valued. Consumers lose their ability to plan budgets, and there is no longer a way to gauge supply and demand accurately. In short, market volatility will cause the markets to become chaotic.

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