Nutrient absorption, does the body regulate it?

In my quest to balance my body chemistry or nutritional profile, I'm trying to understand nutrient absorption. Does the body ever decrease absorption of certain vitamins or minerals that are in a sufficient state and if so through what mechanism?

My theory is that you don't have to supplement deficient nutrients as long as they are plentiful in your diet because the body will use what it needs and excrete or store the rest. Do any of you agree?

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