belle200163
belle200163 belle200163
  • 14-12-2018
  • Social Studies
contestada

Understand supply and demand in regards to a shortage and a surplus

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emeenalqabani
emeenalqabani emeenalqabani
  • 14-12-2018
A shortage means that there’s not enough of a product meaning the demand will go up and then prices can be increased due to limited availability of that product.

A surplus means more product is produced than sold and therefore demand and price will go down.
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