No Bull Economics Lessons

Macroeconomics & Microeconomics Concepts You Must Know

Essential Questions

What is a shortage?

Posted on April 15, 2014 at 9:55 AM

A shortage occurs in a market when the quantity demanded exceeds the quantity supplied. Assuming no price controls or disasters, a shortage is only temporary and market forces will push prices back up toward equilibrium.

AP Macroeconomics / AP Microeconomics Unit 1 Basic Economic Concepts

Categories: AP Macroeconomics, Macro Unit 1 Basic Economic Concepts, Micro Unit 1 Basic Economic Concepts

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