excess demand

(redirected from Shortages)
Also found in: Dictionary, Thesaurus, Medical, Idioms.

Excess Demand

Demand for a good or service well over supply. Excess demand leads to high prices for the good or service.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

excess demand

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
Excess demandclick for a larger image
Fig. 64 Excess demand.

excess demand



a situation in which the quantity demanded (see DEMAND) of a product (OQ2 in Fig. 64) exceeds the quantity supplied (see SUPPLY) (OQ1) at the existing market price (OP). In competitive markets there will be an upward pressure on price, reflecting a shortage of the product, but where the price is controlled the excess could persist. See EQUILIBRIUM MARKET PRICE, Fig. 64 Excess demand. See entry.


Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Antimicrobial shortages have an impact on the prescribing habits of clinicians irrespective of an established ASP.
Recent Bank of Japan Tankan survey data also confirm that labor market shortages are on the rise.
FIRMS are facing an "unprecedented" shortage of skilled workers, with the threat that thousands of vacancies will be left unfilled, a new report has warned.
There needs to be initiatives put in place to address the shortage of nurse educators and RNs.
The app is free and can be downloaded via iTunes for Apple devices and the Google Play store for Android devices, searching for "FDA Drug Shortages."
Employers in Japan report the greatest talent shortages globally (81 percent).
According to the AP article, shortages of drugs began to escalate in 2005.
At first this paper discusses the microeconomic measures of skill shortage and explores the determinants of skill shortages i.e.
WHEREAS, The National League for Nursing identifies the shortage of nurse educators as a root cause of the shortage of nurses in the United States; and
"The FDA is releasing a strategic plan called for in the Food and Drug Administration Safety and Innovation Act (FDASIA) of 2012 to improve the agency's response to imminent or existing shortages and for longer-term approaches for addressing the underlying causes of drug shortages.
This proposal expands on early notification requirements included in the Food and Drug Administration Safety and Innovation Act of 2012 (FDASIA), which created a task force designated to deal with drug shortages. The proposal also would extend those requirements to biologically manufactured drugs.
Of these 26, 21 (81%) stated that their program had faced challenges obtaining MDR TB drugs in the past 5 years (Table), citing reasons such as nationwide shortages (21 [100%]), shipping delays (15 [71%]), lack of resources to pay for SLDs (presumably meaning that neither the program, the patient, nor a health insurer could afford the drugs) (13 [62%]), and a complicated procurement process related to IND protocols (10 [48%]).