surplus. The New Dictionary of Cultural Literacy, Third Edition. 2002

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The New Dictionary of Cultural Literacy, Third Edition. 2002.

surplus


An unsold quantity of a good resulting from a lack of equilibrium in a market. For example, if a price is artificially high, sellers will bring more goods to the market than buyers will be willing to buy. (Compare shortage.)	1

The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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