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The reactions to disequilibrium situations when either supply exceeds demand (excess supply) or demand exceeds supply (excess demand) allow important conclusions to be drawn about the concept of art in society, and should therefore be carefully studied.
Rather, the analysis of this disequilibrium situation leads him or her to concentrate on the process of art in society.
This disequilibrium situation cannot be maintained over an extended period.
Disequilibrium situations, in which supply exceeds demand, or demand exceeds supply, help us to better understand the process by which art is produced and demanded, and therewith how the economist's concept of art evolves.
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