Difference between revisions of "Shortage"

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When [[Demand|demand]] for a [[Widget|widget]] at a given price exceeds [[Supply|supply]], there is a shortage.  A shortage tends to drive the price of the widget up.
 
When [[Demand|demand]] for a [[Widget|widget]] at a given price exceeds [[Supply|supply]], there is a shortage.  A shortage tends to drive the price of the widget up.
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[[Category:Economics]]

Revision as of 04:17, 11 March 2007

When demand for a widget at a given price exceeds supply, there is a shortage. A shortage tends to drive the price of the widget up.