A market shortage can be defined as a situation in which the quantity supplied in a market is greater than the quantity demanded, at the given price.

Name: A market shortage can be defined as a situation in which the quantity supplied in a market is greater than the quantity demanded, at the given price.
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Question

Quizplus · Accepted Answer

A market shortage occurs when quantity demanded is greater than quantity supplied at a given price, not the other way around.

A Market Shortage Can Be Defined as a Situation in Which