Which market condition indicates an excess of sellers, favoring buyers?

A buyer's market occurs when there are more sellers than buyers in the marketplace, which results in greater competition among sellers to attract buyers. In this situation, sellers may need to lower prices, offer incentives, or improve the quality of their products or services to entice buyers, thus favoring the buyer. This imbalance creates favorable conditions for buyers, enabling them to negotiate better deals and choose from a wider selection of options.

Conversely, a seller's market would indicate the opposite scenario, where there are more buyers than sellers, leading to less negotiation power for buyers. A balanced market implies that supply and demand are in equilibrium, providing neither party with an advantage. Lastly, a negotiable market typically refers to the ability to negotiate terms rather than directly addressing the imbalance of supply and demand concerning buyers and sellers.