Explain the meaning of excess demand and excess supply with the of a schedule. explain their effect on equilibrium price.
![Draw a supply and demand curve, label X & Y axis and show equilibrium. Show shortage and surplus and why they exist, add ceiling and floor, use examples to describe. | Homework.Study.com Draw a supply and demand curve, label X & Y axis and show equilibrium. Show shortage and surplus and why they exist, add ceiling and floor, use examples to describe. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/14_2__012327095737921515046.jpg)
Draw a supply and demand curve, label X & Y axis and show equilibrium. Show shortage and surplus and why they exist, add ceiling and floor, use examples to describe. | Homework.Study.com
![The free market: showing market equilibrium, excess supply, and excess... | Download Scientific Diagram The free market: showing market equilibrium, excess supply, and excess... | Download Scientific Diagram](https://www.researchgate.net/publication/344299824/figure/fig1/AS:937111620423693@1600436229459/The-free-market-showing-market-equilibrium-excess-supply-and-excess-demand.jpg)
The free market: showing market equilibrium, excess supply, and excess... | Download Scientific Diagram
![How will disequilibrium-excess demand or excess supply in the money market be solved? Use graphs to explain. | Homework.Study.com How will disequilibrium-excess demand or excess supply in the money market be solved? Use graphs to explain. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/que54808269819268311688.png)