A shortage occurs when the quantity:Please choose the correct answer from the following choices, and then select the submit answer button.a. demanded is greater than the quantity supplied.b. supplied is greater than the quantity demanded.c. demanded is equal to the quantity supplied.d. demanded is the opposite of the quantity supplied.

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12-02-2020
Social Studies

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A shortage occurs when the quantity:Please choose the correct answer from the following choices, and then select the submit answer button.a. demanded is greater than the quantity supplied.b. supplied is greater than the quantity demanded.c. demanded is equal to the quantity supplied.d. demanded is the opposite of the quantity supplied.

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HildredAdebayo HildredAdebayo · Answer 1 · 2020-02-12T07:16:02+01:00

Answer:

A- A shortage occurs when the quantity demanded is greater than the quantity supplied.

Explanation:

A shortage is a condition where the quantity demanded is greater than the quantity supplied.

There are three major causes of shortage:

Increase in demand

Decrease in supply

Government intervention

In a market, there is usually equilibrium between demand and supply at a certain price. However, when the demand becomes more possibly due to demand miscalculations, disequilibrium is introduced into the market. The state of disequilibrium, depending on how quickly the demand is met up with, may not last for a long time.