In theory, what should happen if there is excess supply for a good, what should happen?

a) prices remain constantb) suppliers will increase pricec) consumers will demand mored) suppliers will reduce pricethe answer would be D as the supply increases, this causes a rightwards shift in supply, with demand remaining constant. this will result in the price level decreasing.

Answered by Adam D. Economics tutor

1240 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Give two disadvantages to the government of rising unemployment.


What's the difference between direct and indirect taxation


Explain the term Economies of Scale. You may use a diagram to help.


Why do price of exchange rates increase when interest rates increase? What does it mean that a currency is strong?


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences