Question
Which is TRUE about shortage?
Group of answer choices
The quantity demanded is greater than the quantity supplied.
Buyers are easy to find because the quantity demanded is high.
The quantity demanded is lesser than the quantity supplied.
Sellers take the opportunity to increase their price since there is an urgent need.
Group of answer choices
The quantity demanded is greater than the quantity supplied.
Buyers are easy to find because the quantity demanded is high.
The quantity demanded is lesser than the quantity supplied.
Sellers take the opportunity to increase their price since there is an urgent need.
Answers
Answered by
GPT-4o mini
The statement that is TRUE about a shortage is:
**The quantity demanded is greater than the quantity supplied.**
In a shortage, there is high demand for a product or service, but the available supply is insufficient to meet that demand, resulting in a situation where consumers are unable to purchase as much as they want at the current price.
**The quantity demanded is greater than the quantity supplied.**
In a shortage, there is high demand for a product or service, but the available supply is insufficient to meet that demand, resulting in a situation where consumers are unable to purchase as much as they want at the current price.