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What else can I help you with?
Market clearing price?
The price that exists when a market is clear of shortage and surplus, or is in equilibrium.
What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
When producers will not or cannot offer goods and services at current price's a what happens?
Shortage. :)
What happens to the price when there is a shortage of products?
The prices increases, because the demand is higher for the product, since there is less of it.
What is the difference between scarcity and a shortage?
A shortage can be temporary or long-term, but scarcity always exists.
Market clearing price?
The price that exists when a market is clear of shortage and surplus, or is in equilibrium.
When producers will not or cannot offer goods and services at current price's a what happens?
Shortage. :)
What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
What causes a shortage of a good - a price ceiling or a price floor?
if, at a current price there is a shortage of a good
What happens to the price when there is a shortage of products?
The prices increases, because the demand is higher for the product, since there is less of it.
What is the difference between scarcity and a shortage?
A shortage can be temporary or long-term, but scarcity always exists.
What causes a shortage of goods price ceiling or price floor Which causes a surplus?
if, at a current price there is a shortage of a good
What happens when supply is greater than demand?
The price declines until demand increases.
If many people want to buy a product but not enough of product exists what is that called?
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).
What happens to the equilibrium price when supply goes down?
When supply goes down the equilibrium price tend also to fallcausing the price of commodities to fall and hence shortage of goods and services to the economy.
How does a surplus or a shortage of a good or service affect the market price?
A surplus or a shortage of a good or service affects the market price directly. When there is a surplus, the prices goes down and when there is a shortage the price increases due to the demand levels.
When a shortage exists?
quantity supplied is less than quantity demanded
