If there is a shortage in a market, this will usually cause both demand and supply curves to shift upwards.

Question

Quizplus · Accepted Answer

A shortage in a market typically causes the price to increase, which can lead to a movement along the demand and supply curves, not a shift of the curves themselves. The demand curve might shift if consumer preferences change, and the supply curve might shift due to changes in production costs or technology, but a shortage itself does not directly cause both curves to shift upwards.

If There Is a Shortage in a Market, This Will