How the demand really does exceed the supply

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

Questions Cloud

What was necessarily an economically effective move : Business Week, in an article dealing with management, wrote, "When he took over the furniture factory three years ago.(the manager realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap.

What is the probability that all three suppliers : What is the probability that all three suppliers will be disrupted using option 1?

Explain the molecular weight of the compound : The freezing point of a solution of 1.048 g of an unknown nonelectrolyte dissolved in 36.21 g of benzene is 1.39°C. Pure benzene freezes at 5.48°C and its Kf value is 5.12°C/m. What is the molecular weight of the compound?

Explain what is shifting and for what reason : Over the past 25 years, tuition at Brockport State has been steadily rising. During the same time period, the number of students attending has also been increasing. It looks like the quantity is going up as the price increases in violation of the ..

How the demand really does exceed the supply : 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

Explain what type of phosphate component : Since phosphate ionization of 2.14, 6.86 and 12.4. you make stock buffer 500mM in 1L. You decide to make one stock pH 6.5 and the other ph 7.2 How many mmols of what type of phosphate componet do you add to each of these buffers?

Explain many kilojoules are needed to raise the temperature : How many kilojoules are needed to raise the temperature of 125 g of copper from 22 deg C to 325 deg C? My book shows copper at 0.385 j/g. Here is what I have done so far but I am not sure? 125 g x 303 deg C x 0.385 j = 14600. j 14600/1000 = Conver..

Does the unemployment rate become better or worse indicator : The goal of studying and recording the unemployment rate is to learn something about the state of the economy. Explain why each of the following makes the unemployment rate a better or worse indicator of how healthy the economy is.

How many hamburgers were sold on friday : On Friday, a local hamburger shop sold a combined total 444 of hamburgers and cheeseburgers. The number of cheeseburgers sold was two times the number of hamburgers sold. How many hamburgers were sold on Friday?

User Account

All Pages