In economics, a shortage or excess demand is a situation in which the demand for a product or service exceeds its supply in a market. It is the opposite of an excess supply (surplus).

Nov 30, 2025 · Other states are attempting to improve the shortage by quelling the problems that current physicians already in the workforce are facing.

Sep 5, 2025 · What Is a Shortage? An economic shortage occurs when demand for a product or service exceeds its supply at market price, disrupting equilibrium. Unlike scarcity, shortages …

6 days ago · An acute global shortage of memory chips is forcing artificial intelligence and consumer-electronics companies to fight for dwindling supplies, as prices soar for the …

Dec 2, 2025 · Labor shortfall in construction industry resulted in 19,000 fewer homes built in 2024 and $10.8 billion economic hit, significantly worsening housing affordability.

SHORTAGE meaning: 1. a situation in which there is not enough of something: 2. a situation in which there is not…. Learn more.

Mar 20, 2025 · In economic terms, a shortage refers to a situation where the quantity of a product or service demanded exceeds the quantity supplied at the prevailing market price.

The meaning of SHORTAGE is lack, deficit. How to use shortage in a sentence.

Sep 8, 2024 · A shortage in economics refers to a situation where the demand for a good or service exceeds its supply in the market. This discrepancy arises when consumers are willing …

Economic shortages are situations where unequal market supply and demand prevail. An increase in demand, a decrease in supply, and government interventions are reasons for the …