When supply exceeds demand at a price, there is a:
AShortage
BSurplusCORRECT
CEquilibrium
DInflation
JUPEBEconomics
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
Surplus — quantity supplied > quantity demanded at the current price. Tends to push price down.
Want this in Pidgin, Yoruba, Igbo or Hausa? Sign up free →
Practice more Economics questions
JUPEB Economics has thousands more questions like this — with Worked answers on every one.