Oversupply (Noun)
Meaning
The quality of being so overabundant that prices fall.
Classification
Nouns denoting attributes of people and objects.
Examples
- The global oversupply of oil led to a significant drop in prices, making it cheaper for consumers to fill up their tanks.
- The new housing development in the city led to an oversupply of apartments, causing rental prices to plummet.
- Due to the oversupply of avocados in the market, the price per unit decreased, making them more affordable for consumers.
- The rise of online shopping led to an oversupply of retail space, causing many brick-and-mortar stores to close down.
- The increased production of wheat in the region resulted in an oversupply, forcing farmers to sell their crops at lower prices.