Which statement explains why prices rise in a market?
producers produce a quantity greater than consumers want to buy.
there is excess demand in the market.
consumers buy much less of a good than they have in previous years.
new producers enter the market.

The correct answer is There is excess demand in the market

Demand means the amount of a good or service that consumers want to buy for a set price in a market. Demand can be interpreted as demand, but not necessarily as consumption, since it is possible to want and not to consume a good or service for various reasons.

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