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That is called a shortage of the product. A shortage happens whenever the demand (number of people wanting a product) is greater than the supply (quantity of available product).

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Q: If many people want to buy a product but not enough of product exists what is that called?
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Why are people important in the business environment?

A business can only run if there are people that can run a business these would be called the owner's, manager's ect... the business also need people to make the product with is the employee's. if there is going to be a product produce they need people to buy it customers (s). to make the Product the need raw materials e.g. paper, food ect... they need people to provide this which would be the suppliers. all of these people all come under a group called stakeholders and they our the blood of the business. no people no business. simple!! hope it help! :)


What is product availability?

if we consider the people as product ,then product availability means producing huge number of people so that they are flexible to satisfy to all the creations of creator


What happens when a company produces a small quantity of a product and a large number of people want to purchase the product?

When a company produces a small quantity of a product and a large number of people want to purchase the product, the demand will cause the price of the product to go up.


How advertising increases demand of product?

It persuades people to buy that product by informing them about it rhough various media. It persuades people to buy that product by informing them about it rhough various media.


The amount that firms will produce and sell the specific price?

The amount of product a firm is going to produce depends on the quantity demanded by the people. In economics it is called the supply.

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