Unsold petrol piles up in tanks because the price is too high. Economi…

Question

Unsold petrol piles up in tanks because the price is too high. Economists call this a:

Accepted Answer

A. Surplus

1. More was supplied than buyers wanted.
2. The extra stock has nowhere to go.
3. That excess supply is a surplus.
_Source: OpenStax Principles of Microeconomics 3e, Chapter 3, Demand and Supply._

Answer

Shortfall

Answer

Setback

Answer

Sellout

Unsold petrol piles up in tanks because the price is too high. Economists call this a:

Keep practising Demand Supply and Equilibrium