How the demand really does exceed the supply

Assignment Help Macroeconomics

Reference no: EM13221920

You will occasionally read or hear news items that say something like, "the demand for gasoline exceeds the supply", or that, "the supply of personal computers exceeds the demand." These statements are inherently ludicrous (they don't make sense). Why are these statements technically incorrect? What would a supply and demand graph look like if it portrayed demand exceeding supply? What does a commentator really mean when he or she says the demand for natural gas exceeds the supply? Can you think of any products for which the demand really does exceed the supply or the supply really does exceed the demand?

Reference no: EM13221920

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