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
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