Business, 04.06.2020 21:04 babyduckies37

What would happen to the price of a certain commodity if the demand was always greater than the supply? There would be surplus of supply at any given price. Consumers would be willing to pay more for an abundant commodity and sellers would charge more, resulting in an upward spiral of the prices for the commodity. There would be a surplus of supply until the supply equals the demand. Consumers would be willing to pay more for a scarce commodity and sellers would charge more, resulting in an upward spiral of the prices for the commodity. There would be a shortage of supply until the supply equals the demand. Consumers would be willing to pay more for a scarce commodity and sellers would charge more, resulting in an upward spiral of the prices for the commodity. There would be a shortage of supply at any given price. Consumers would be willing to pay

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