skylarhill22 skylarhill22

13-09-2021
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What does shortage mean in economics

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itsdynisty1407 itsdynisty1407

13-09-2021

Answer:

A shortage, in economic terms, is a condition where the quantity demanded is greater than the quantity supplied at the market price. There are three main causes of shortage—increase in demand, decrease in supply, and government intervention.

Explanation:

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OverpoweredNoob OverpoweredNoob

13-09-2021

Answer:

See explanation

Explanation:

A shortage is where demand for a product/service is higher than the supply. This is a form of disequilibrium as supply and demand are not equal.

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