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28 March, 12:30

What is the definition of shortage in economics

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  1. 28 March, 13:38
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    In economics a shortage occurs when demand is greater than supply, causing unfulfilled demand. A shortage can occur due to. Temporary supply constraints, e. g. supply disruption due to weather or accident at a factory. Fixed prices - and unexpected surge in demand, e. g. demand for fuel in cold winter.
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