- published: 29 Mar 2011
- views: 21300
For the opposite, see: surplus (also called excess supply)
In economics, a shortage or excess demand is when the demand for a product or service exceeds its supply in a market. It is the opposite of an excess supply (surplus).
In a perfect market (one that matches a simple microeconomic model), an excess of demand will prompt sellers to increase prices until demand at that price matches the available supply - market equilibrium. In economic terminology, a shortage occurs when for some reason (such as government intervention, or decisions by buyers not to raise prices) the price does not rise to reach equilibrium. In this circumstance, there are more buyers at the market price than the quantity of the good or service that is available, and some non-price mechanism (such as "first come, first served" or a lottery) determines which buyers are served.
In common use, the term "shortage" may refer to a situation where most people are unable to find a desired good at an affordable price, especially where supply problems have increased the price. "Market clearing" happens when all buyers and sellers willing to transact at the equilibrium price are able to find partners. There are almost always willing buyers at a lower-than-market-clearing price; the narrower technical definition doesn't consider failure to serve this demand as a "shortage", even if it would be described that way in a social or political context (which the simple model of supply and demand does not attempt to encompass).
CNN's Paula Newton reports from Venezuela, where an economic crisis is creating a shortage of food and medical supplies.
This video is in response to questions I have been receiving regarding a potential ammo shortage in 2016 due to Obama's executive actions on gun control.
Music video by Bill & Gloria Gaither performing No Shortage (feat. The Isaacs and Bill Gaither) [Live]. (P) (C) 2012 Spring House Music Group. All rights reserved. Unauthorized reproduction is a violation of applicable laws. Manufactured by EMI Christian Music Group,
RED ALERT!!! As of Monday, September 19th, 2016, up to six states are facing possible gas shortages, with more potentially on the way: Alabama, North Carolina, South Carolina, Georgia, Tennessee, and Virginia. These states have each declared a state of emergency... until further notice. Due to the Colonial Pipeline leak near Birmingham, Alabama as of Friday, September 9th, 2016, reports of up to 250,000 gallons of gas have been discovered. The pipeline, running from New York to Texas, provides fuel for much of the southern and eastern coasts of America each day — and could affect up to 50 MILLION Americans. Fuel shortages, long lines, and major headache have already resulted from this pipeline leak. While the cause is said to be “unknown,” meanwhile, major cities such as Knoxville, TN...
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News of a leak in an Alabama fuel line has prompted drivers across Middle Tennessee to rush to the gas station, prompting a fuel supply disruption.
Pipeline gas bill causes a fuel shortage in Alabama Georgia Tennessee and North Carolina http://www.paulbegleyprophecy.com also Help Us Spread the Word https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted;_button_id=D7WQL22GHQY2U also http://www.al.com/news/index.ssf/2016/09/bentley_declares_state_of_emer.html also https://crusaderjournal.com
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3505 HOSPITALS 11PM 10/6/71 RDW STUDIO A SHORTAGE IN VIRGINIA AND THE NATION OF QUALIFIED PROFESSIONAL PERSONNEL HAS APPARENTLY NOT AFFECTED THE ROANOKEVALLEY. ACTION NEWS REPORTER RANDY WEBSTER HAS THAT STORY...
Read your free e-book: http://hotaudiobook.com/mebk/50/en/B00WNXKS40/book The uncontrolled utilization of natural resources to supply to the water demands of the ever-growing population has brought about worldwide scarcity. The supply shortage has resulted in conflicts between countries, created prolonged drought, closing of industrial units, shifting of local inhabitants etc. The abnormality in climatic patterns due to global warming has only enhanced the uncertainties. Unregulated discharge of waste water into fresh water resources is also polluting the available water resources and making them non-utilizable. That is why the discrepancy between water supply and demand is slowly but steadily becoming a problem, which may lead to conflict and inequality all over the world. The present inv...
Candidates were asked what key policy issues will you tackle to address the teacher shortage?
Diana Olick reports on the appraiser shortage that has home appraisal delays up 50% since the beginning of the year.
There is a shortage of school bus drivers nationwide. It's also affecting local school districts. Bus companies such as American Student and First Student are in immediate need drivers. http://twelve.tv Learn about our mobile app - http://bit.ly/CH12app http://twitter.com/12sports http://twitter.com/12localnews http://www.facebook.com/12localnews Channel 12 is on Comcast cable in the northwest suburbs of Minneapolis and includes the cities Brooklyn Center, Brooklyn Park, Crystal, Golden Valley, Maple Grove, New Hope, Osseo, Plymouth and Robbinsdale.
http://www.SilverDoctors.com Throughout 2015's Severe Retail Investment Silver Shortage, Skeptics Claimed That Silver Itself Was In Abundant Supply & the Shortage Was Merely a Production Issue. Is There In Fact A Massive Shortage of Physical Silver Metal Developing in the Market? Renowned Silver Expert David Morgan Joined the Show to Present the Cold Hard Data:
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Shortage Or No Shortage? Renowned Silver Expert David Morgan Presents the Data | http://www.themorganreport.com Throughout 2015’s Severe Retail Investment Silver Shortage, Skeptics Claimed That Silver Itself Was In Abundant Supply & the Shortage Was Merely a Production Issue. Is There In Fact A Massive Shortage of Physical Silver Metal Developing in the Market? Renowned Silver Expert David Morgan Joined the Show to Present the Cold Hard Data: Please subscribe to this channel and share with your friends--- Youtube: http://www.youtube.com/user/silverguru Resources: Learn more and become an insider for The Morgan Report, click link below... http://www.themorganreport.com/join Automatically save in gold and silver. Plus you can make money when you promote buying gold and silver with t...
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In this episode guest host and off grid author Rich Scheben and Jason Van Tatenhove welcome back to the show Deborah Tavares. We talk about the reality that water IS a renewable resource and that is now being manipulated to create climate refugees. (Primary Water) We also talk about Jade Helm 15, the looming financial collapse and the possibility of an ISIS attack. We then delve deeper into mind control technology, targeted individuals and Geo-Engineering.
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