Explain the chain effects prevailing market price is below the equilibrium price - Economics - Market Equilibrium

Question

Explain the chain effects prevailing market price is below the
equilibrium price

Jia Dhaka · Answer

if market price is below eqbm price then it is a situation of
excess demand Due to limited supply the competition ampng consumers
will increase they will be ready tpo buy goods even at a high price
and thus the price rises