Extremely cold winter weather has destroyed oranges in Florida. The freeze has caused
A)scarcity because there are less oranges now than people want.
B)scarcity because people have to switch to other types of citrus fruits.
C)a shortage because people cannot obtain as many oranges as they wish to buy at the pre-freeze price.
D)a shortage because the orange growers will have less income.

Question

Quizplus · Accepted Answer

A shortage occurs when the quantity demanded exceeds the quantity supplied at a given price, which is the case here as the freeze has reduced the supply of oranges, making it difficult for people to buy as many as they want at the pre-freeze price.

Extremely Cold Winter Weather Has Destroyed Oranges in Florida