Definition, Meaning & Synonyms
overproduction
noun
/ˌoʊvərprəˈdʌkʃən/
Definition
The excessive production of goods or services beyond what is necessary or can be consumed.
Examples
- Overproduction in agriculture can lead to lower prices for farmers.
- The overproduction of plastic materials has serious environmental consequences.
- During the economic boom, many companies faced issues related to overproduction.
Meaning
Overproduction occurs when businesses or economies create more products than can be sold, often leading to wasted resources and financial losses.
Synonyms
- Excess production
- Surplus
- Overabundance
