Question

A market shortage is: The amount by which the quantity demanded exceeds the quantity supplied at a given price. The result of a price floor. A situation in which producers cannot sell all the goods and services that they are willing and otherwise able to sell. The amount by which the cost of production exceeds the price of a good.

Answer 1

Answer:

The amount by which the quantity demanded exceeds the quantity supplied at a given price.

Explanation:

Market shortage occurs when there is excess demand for a product. The quantity demanded exceeds the amount that is made available by the supplier.

This usually results in increase in prices for the scarce goods. Consumers are willing to pay more to obtain the goods that are in short supply.

Market shortage can be caused by icraesed demand, decreased supply, or as a result of government intervention.