Ueberschussangebot

What Is Ueberschussangebot?

Ueberschussangebot, also known as excess supply or surplus, occurs when the quantity of a good or service supplied exceeds the quantity demanded at a given price. This concept is fundamental to Mikroökonomie and the study of Marktstörung within market dynamics. In a free market, an Ueberschussangebot signals that the current price is too high, leading to unsold inventory and pressure on producers to lower prices. It is a direct result of the interplay between Angebot und Nachfrage at a price above the Gleichgewichtspreis.

History and Origin

The concept of Ueberschussangebot is deeply rooted in classical economics, particularly with the development of supply and demand theory. Economists have long observed that markets naturally tend towards an Marktgleichgewicht where the quantity of goods producers are willing to sell matches the quantity consumers are willing to buy. Disruptions to this balance, such as overproduction or shifts in consumer preferences, can lead to a surplus.

A notable historical example of widespread Ueberschussangebot in the United States occurred in the agricultural sector following World War I. Farmers had ramped up production to meet wartime demand, but after the war, European agricultural output recovered, and demand for American crops plummeted. This led to significant overproduction, driving commodity prices so low that many farmers struggled to cover their costs and faced immense financial hardship. T⁴his period underscored how an Ueberschussangebot, when left unaddressed, can have profound economic and social consequences. The Federal Reserve Bank of Atlanta provides further insight into the basic principles of how markets determine prices through supply and demand.

³## Key Takeaways

• Ueberschussangebot signifies a situation where the quantity supplied of a product or service surpasses the quantity demanded at a specific price point.
• It typically arises when the market price is set above the Gleichgewichtspreis.
• A persistent Ueberschussangebot usually leads to a Preissenkung as producers aim to clear unsold stock and stimulate sales.
• This imbalance indicates an inefficient allocation of resources within a market.
• Understanding Ueberschussangebot is crucial for analyzing market behavior and predicting price movements.

Formula and Calculation

Ueberschussangebot is calculated as the difference between the quantity supplied ($Q_S$) and the quantity demanded ($Q_D$) at a particular price.

The formula is:

$\text{Ueberschussangebot} = Q_S - Q_D$

Where:

• $Q_S$ represents the quantity of a good or service that producers are willing and able to offer for sale at a given price.
• $Q_D$ represents the quantity of a good or service that consumers are willing and able to purchase at that same price.

For an Ueberschussangebot to exist, $Q_S$ must be greater than $Q_D$. This excess quantity represents unsold goods, leading to a Warenüberfluss.

Interpreting the Ueberschussangebot

Interpreting an Ueberschussangebot involves understanding its implications for market participants and the overall Marktgleichgewicht. When a surplus is observed, it indicates that producers are bringing more of a good to market than consumers are willing to buy at the prevailing price. This excess inventory creates downward pressure on prices.

For businesses, a significant Ueberschussangebot means higher holding costs, potential spoilage or obsolescence, and reduced profitability. They may respond by lowering prices, cutting back on production, or increasing marketing efforts. For consumers, an Ueberschussangebot can lead to lower prices and potentially better deals, reflecting the market's attempt to clear excess stock. Over time, as prices fall, the quantity demanded will increase, and the quantity supplied will decrease, moving the market back towards its Gleichgewichtsmenge.

Hypothetical Example

Consider a hypothetical market for a newly launched smartphone model. Initially, the manufacturer, based on optimistic sales forecasts and high Produktionskosten that necessitate a certain price point, sets the price at €1,000 per unit.

At this price:

• Quantity Supplied ($Q_S$) = 100,000 units (the manufacturer produces 100,000 units).
• Quantity Demanded ($Q_D$) = 60,000 units (consumers are only willing to buy 60,000 units at €1,000).

Using the formula:
Ueberschussangebot = $Q_S - Q_D$ = 100,000 - 60,000 = 40,000 units.

In this scenario, there is an Ueberschussangebot of 40,000 smartphones. The manufacturer will find 40,000 units unsold and accumulating in inventory. To address this, the manufacturer would likely initiate a Preissenkung to stimulate demand and move the excess stock, potentially offering discounts or promotions. This adjustment helps align the Angebot with the actual market Nachfrage.

Practical Applications

Ueberschussangebot appears in various real-world economic scenarios and industries:

• Commodity Markets: Overproduction of agricultural goods like corn or soybeans can lead to a significant Ueberschussangebot, depressing prices for farmers. Similarly, an oversupply of oil can drive down crude prices globally.
• Real Estate: A housing market with more available homes than potential buyers at current prices experiences an Ueberschussangebot, leading to longer selling times and potential price reductions.
• Technology Sector: The semiconductor industry, for instance, experienced an Ueberschussangebot in 2023 following a period of high demand during the pandemic. Increased production capacity met with a slowdown in consumer electronics spending, creating an oversupply of chips. This s²ituation prompted chipmakers to reduce production and grapple with inventory adjustments.
• Labor Markets: While not a "good," an Ueberschussangebot of labor (unemployment) occurs when the supply of available workers exceeds the demand for labor at prevailing wage rates.

These examples highlight how Ueberschussangebot impacts diverse markets, signaling an imbalance that typically prompts price adjustments or production cuts to restore equilibrium and stimulate Wirtschaftswachstum.

Limitations and Criticisms

While Ueberschussangebot is a clear indicator of market imbalance, its interpretation and resolution can face limitations and criticisms. One significant criticism arises in the context of government interventions, such as Preisuntergrenze (price floors). When a government sets a minimum price for a good or service above the natural Gleichgewichtspreis, it can artificially create a persistent Ueberschussangebot.

For example, agricultural price support programs, intended to protect farmers' incomes, historically led to large surpluses of commodities like butter or grain, often referred to as "butter mountains" or "grain lakes." Governments would purchase this excess supply, incurring significant costs and creating inefficiencies. Critics argue that such interventions distort market signals, prevent the natural Preissenkung that would clear the surplus, and can lead to wasted resources. The ar¹tificial maintenance of prices discourages adjustments in Angebot or stimulates inefficient production, rather than encouraging the market to reach its own balance.

Furthermore, accurately measuring Ueberschussangebot can be challenging in dynamic markets with imperfect information or rapidly changing Konsumentenverhalten.

Ueberschussangebot vs. Nachfrageüberhang

Ueberschussangebot (excess supply) and Nachfrageüberhang (excess demand) are two opposing conditions that describe a state of market disequilibrium. While Ueberschussangebot occurs when the quantity supplied outweighs the quantity demanded at a given price, Nachfrageüberhang is the exact opposite: the quantity demanded exceeds the quantity supplied at a particular price.

The key difference lies in the price point relative to the market's Gleichgewichtspreis. An Ueberschussangebot typically arises when the price is above equilibrium, leading to unsold inventory and downward pressure on prices. Conversely, a Nachfrageüberhang occurs when the price is below equilibrium, leading to shortages and upward pressure on prices. In both cases, the market is not clearing, but the forces pushing it back towards equilibrium operate in opposite directions—downward price adjustments for Ueberschussangebot and upward for Nachfrageüberhang.

FAQs

What causes Ueberschussangebot?

Ueberschussangebot is primarily caused by a price for a good or service being set above its Gleichgewichtspreis. This can result from factors such as overproduction, a decrease in Nachfrage, improved production technologies that lower Produktionskosten and increase output, or government interventions like price floors.

How does Ueberschussangebot affect prices?

An Ueberschussangebot typically leads to downward pressure on prices. With more goods available than buyers are willing to purchase at the current price, sellers must lower their prices to attract more customers and clear their excess inventory. This Preissenkung continues until the market reaches a new equilibrium where supply matches demand.

Is Ueberschussangebot always a bad thing?

While Ueberschussangebot often signals inefficiency or potential losses for producers, it can sometimes benefit consumers through lower prices and increased choice. However, a prolonged or severe Ueberschussangebot can lead to economic stagnation, reduced investment, and even unemployment in affected industries due to persistent Warenüberfluss.

How do markets resolve Ueberschussangebot?

Markets resolve Ueberschussangebot through natural adjustment mechanisms. As prices fall due to the surplus, the quantity demanded by consumers typically increases (due to the law of Nachfrage), while the quantity supplied by producers decreases (as lower prices make production less profitable). This dual movement helps the market move back towards Marktgleichgewicht.

Can government policies create Ueberschussangebot?

Yes, government policies can create or exacerbate Ueberschussangebot, most notably through price floors or price support programs. When a government mandates a minimum price (a Preisuntergrenze) above the market-clearing equilibrium, producers may supply more goods than consumers are willing to buy at that elevated price, leading to a surplus that the government may then need to purchase or manage.