Definition, Meaning & Synonyms
supply-glut
noun
/səˈplaɪ ɡlʌt/
Definition
A situation where the supply of a commodity exceeds its demand, resulting in excess inventory and often lower prices.
Examples
- After the harvest, the market experienced a supply-glut of apples, causing prices to drop significantly.
- The supply-glut in the oil market led to many oil companies reducing their production to stabilize prices.
- During the pandemic, there was a supply-glut of personal protective equipment (PPE) that contributed to price reductions.
Meaning
Supply-glut refers to an abundance of goods or services in the market, leading to a surplus that can’t be sold at the normal market rate.
Synonyms
- oversupply
- excess supply
- overproduction
