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Choose whether each scenario demonstrates equilibrium, excess supply, or excess demand. The price of a product has dropped greatly, and store owners do not have enough of the item to meet demand.  demand for a new truck is beginning to increase, but car dealerships still have too many of these trucks on their lots. The price for a popular holiday toy has risen too high, and consumers are not purchasing items in stock in stores.

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sunnday23

Answer:

excess demand, excess supply , excess supply

Explanation:

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Tundexi

The term of  Excess Demand is used in a market where the demand for a product have increase because of low supply while "Excess Supply" is used when there is an increase in a product availability in market because of low demand for them.

  • The scenario of when "the price of a product has dropped greatly and store owners do not have enough of the item to meet demand" is an example of Excess Demand

  • The scenario of when "the demand for a new truck is beginning to increase but the car dealerships still have too many of these trucks on their lots" is an example of Excess Supply.

  • The scenario of when "the price for a popular holiday toy has risen too high and consumers are not purchasing items in stock in stores" is an example of Excess Supply.

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