The answer is "Excess demand or Shortage".
An economic concept that relates to a consumer's desire to purchase goods and services and willingness to pay a specific price for them is known as Demand.
What is Demand?
- The law of demand concerns consumer's changing desire to purchase goods and services at given prices.
- Demand and supply determine the actual prices of goods and the volume that changes hands in a market.
- It can refer to either market demand for a specific good or aggregate demand for the total of all goods in the company.
- The demand curve demonstrates visually how the decreasing price for a product increases the quantity purchased.
To learn more about Demand
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