Definition, Meaning & Synonyms
excess-supply
Noun
/ɪkˈsɛs səˈplaɪ/
Definition
A situation in which the quantity of a product or service exceeds the demand for it.
Examples
- During the economic downturn, the housing market experienced an excess supply of homes, leading to falling prices.
- The retailer had to offer discounts due to the excess supply of seasonal merchandise.
Meaning
Excess supply occurs when producers offer more goods or services than consumers are willing to purchase at a given price.
Synonyms
- surplus
- glut
- overproduction
- oversupply
