A market in which product availability exceeds demand is called a

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Study for the MTTC Business Management, Marketing, and Technology (098) Test. Use flashcards and multiple choice questions with detailed explanations for each question. Prepare effectively for your exam!

Multiple Choice

A market in which product availability exceeds demand is called a

Explanation:
When there is more supply than demand, a surplus occurs and buyers have the upper hand. This is known as a buyer's market. Prices generally fall and it takes longer for sellers to move their stock, as there’s more product than buyers. In contrast, a seller's market happens when demand exceeds supply, pushing prices up. The term equity market refers to the stock market, not to this situation in consumer goods, and “market gap” isn’t the standard term for this balance.

When there is more supply than demand, a surplus occurs and buyers have the upper hand. This is known as a buyer's market. Prices generally fall and it takes longer for sellers to move their stock, as there’s more product than buyers. In contrast, a seller's market happens when demand exceeds supply, pushing prices up. The term equity market refers to the stock market, not to this situation in consumer goods, and “market gap” isn’t the standard term for this balance.

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