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A U.S.manager who is negotiating in China has difficulty getting his Chinese counterparts to agree to put the details of their new contract on paper.At the same time,the Chinese managers are frustrated at the U.S.manager's insistence to clarify every detail.This conflict is can be partially attributed to:
Excess Supply
Occurs when the quantity of a good or service supplied by producers exceeds the quantity demanded by consumers at a given price.
Supply
The total amount of a good or service available for purchase at any specified price.
Demand
The level of demand for a good or service, depending on consumers' readiness and capacity to buy at various prices.
Equilibrium
A state in an economy or market where demand equals supply, and there is no tendency for change.
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