Both Excess Supply And Excess Demand Are A Result Of:
a. equilibrium
b. disequilibrium
c. overproduction
d. elasticity
The correct answer is choice b) disequilibrium.
Production
Production refers to the combination of various inputs to achieve the desired output in the market. Productions exist to satisfy the different wants of consumers in the market.
Moreover, different companies indulge in production to generate profits from the sale of the products. There are various types of production in the economy, including flow and batch production, among others.