If the quantity demanded exceeds the quantity supplied at the current market price, then an excess exists. (Insert a single word.)

If the quantity demanded exceeds the quantity supplied at the current market price, then an excess demand exists.

In economics, excess demand occurs when consumers want to purchase more of a good or service than is available at the current price. This situation can lead to upward pressure on prices, as sellers may raise prices due to the competition among buyers for the limited supply. As prices increase, the quantity demanded typically decreases, while the quantity supplied may increase, moving the market toward a new equilibrium. This concept highlights the importance of price in balancing the interests of buyers and sellers in a market economy.