Which is TRUE about shortage?

Question

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.

Answer 1

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.