A normal gap between supply and demand for some subset of currently produced commodities is not a serious problem, because it is balanced by excess demand for other currently produced commodities. As industries suffering from insufficient demand shed workers, industries benefiting from surplus demand hire them.

Firms in advanced economies are now cutting jobs, owing to inadequate final demand, which has led to excess capacity, and to uncertainty about future demand. But cutting jobs weakens final demand further, because it reduces labor income and increases inequality.

(Shortages and long lines can fuel political rage just as surely as higher prices can.) Otherwise, the policy satisfies the excess demand via imports, and so raises the world price even more.

When there is no excess demand for cash, there will be no excess supply of the bonds and stocks that underpin and finance the economy s productive capital. Thus, expansionary monetary policy via standard open market operations by a central bank is the first item on the checklist of what to do in a financial crisis.

China s Excess Capacity Nightmare

African countries adopted commodity boards for coffee and cocoa. Although the original rationale was to buy the crop in years of excess supply and sell in years of excess demand, thereby stabilizing prices, in practice the price paid to cocoa and coffee farmers, who were politically weak, was always below the world price in the early decades of independence.

Not surprisingly, a catchphrase in economic policy debates nowadays is secular stagnation, the idea that excess savings chronically dampen demand. The economist Robert Gordon has also argued that the world is low on economically productive ideas.

Excess of politeness is annoying.

At this point, the authorities could eliminate overcapacity through firm closures, mergers and acquisitions, and other structural measures. They could also seek to eliminate excess capacity by using expansionary monetary and fiscal policies to stimulate effective demand.

Sustained budget deficits crowd out private investment, push up long term real interest rates, and increase the burden on future taxpayers. But they do not cause inflation unless they lead to excess demand for goods and labor.

In both cases, the underlying problem is insufficient aggregate demand. The ultimate irony is that there are simultaneously excess capacity and vast unmet needs and policies that could restore growth by using the former to address the latter.

We have this incredible excess capacity.

By contrast, a gap between supply and demand when the corresponding excess demand is for financial assets is a recipe for economic meltdown. There is, after all, no easy way that unemployed workers can start producing the assets money and bonds that not only are rated investment grade, but really are that financial markets are not adequately supplying.

Excess of authority or contravention of instructions

The reason is simple while base money is soaring, the velocity of money has collapsed, with banks hoarding the liquidity in the form of excess reserves. Ongoing private and public debt deleveraging has kept global demand growth below that of supply.

Such crises cause major negative demand shocks, as excess debt and falling asset prices damage balance sheets, which then require increased savings to heal a combination that is lethal to growth. If the crisis occurs in a systemically important economy such as the US or Europe (emerging economies' two largest external markets) the result is a global shortage of aggregate demand.

(d) Net excess (shortfall) of income over expenditure

First, in a situation of widespread unemployment and excess capacity, short run output is determined primarily by demand, not supply. In the eurozone s member countries, only fiscal policy is possible at the national level, because the European Central Bank controls monetary policy.

When there is sufficient excess supply in the economy, promoting supply side productivity is practically useless without efforts to boost demand. That implies that it was not appropriate to focus on growth until the deflation gap narrowed considerably that is, until now.

First, in a situation of widespread unemployment and excess capacity, short run output is determined primarily by demand, not supply. In the eurozone s member countries, only fiscal policy is possible at the national level, because the European Central Bank controls monetary policy.

Provided that there is no recurrence of the severe external demand shock of 2008 a likely outcome unless Europe implodes there is good reason to hope for a soft landing to around 8 GDP growth. A downshift to this more sustainable pace would provide welcome relief for an economy long plagued by excess resource consumption, labor market bottlenecks, excess liquidity, a large buildup of foreign exchange reserves, and mounting inflationary pressures.

The craving for excess wealth kept you people neglectful.

The craving for excess wealth kept you people neglectful.

(c) Interest income in excess of the budgetary estimates

Any time perspective in excess has more negatives than positives.

Stopping the deployment of excess international search and rescue teams

O ye who believe! make not unlawful the good things which Allah hath made lawful for you, but commit no excess for Allah loveth not those given to excess.

O ye who believe! make not unlawful the good things which Allah hath made lawful for you, but commit no excess for Allah loveth not those given to excess.

First, consumption has to give way smoothly to investment, as past excess capacity is worked off and as expansionary policies in industrial countries normalize. Second, to reduce the current account imbalances that have built up, demand has to shift from countries running deficits to countries running surpluses.

So we have, possibly, liquid water, organic materials and excess heat.

The load of the truck was in excess of three tons.

In 1998, excess capacity was estimated to be 275 Mt. worldwide.

BERKELEY The central insight of macroeconomics is a fact that was known to John Stuart Mill in the first third of the nineteenth century there can be a large gap between supply and demand for pretty much all currently produced goods and services and types of labor if there is an equally large excess demand for financial assets. And this fundamental fact is a source of big trouble.

Instead, banks have hoarded the increase in the monetary base in the form of idle excess reserves. There is a credit crunch, as banks with insufficient capital do not want to lend to risky borrowers, while slow growth and high levels of household debt have also depressed credit demand.

Reinsurance shall be arranged for the portion in excess of this sum.

It doesn't see any excess cost. It doesn't spend any extra time.

Illegal forest related activity on public lands worldwide is estimated to cause annual losses in revenues and assets in excess of 10 billion. The conditions that make such illegal activity possible include poor governance, corruption and limited law enforcement capacity at local, regional and international levels, as well as market demand.

Purchase orders cannot be processed unless they pass through the budget check function, which does not permit expenditure in excess of the project budget for that accounting period, or in excess of cash received.

And we may have invented excess, but the problem of waste is worldwide.

Energy demand

Demand reduction

Demand reduction

Demand reduction

But, when aggregate demand is depressed as it is in Europe s periphery the second mechanism operates weakly, if at all. It is easy to see why making it easier to fire labor or start new businesses has little effect on hiring when firms already have excess capacity and have difficulty finding consumers.

Now another form of pollution that's biological pollution is what happens from excess nutrients.