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A change in price causes both Surplus and Shortages.
Surplus means in excess (having too much). For example, if a store which sold an item for 10 dollars decided to change the price to 12 dollars, most people would not want to buy that item at the new price (especially if they're used to the old price). The store would end up having too much (Surplus) of that item because nobody is buying it due to the increase in price from 10 dollars to 12 dollars.
As for shortage, if the same store which sold an item for 10 dollars decided to sell that item for 8 dollars instead (it went on sale) then more people would buy the that item at a faster rate. So much faster that the store would not be able to order more in time to satisfy every customer. Resulting in a shortage (not having enough).
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What can cause shortages or surpluses of goods and services?
over production can lead to a surplus of goods and/or services, and shortages can occur when demand for a product exceeds the productions of said product
What occurs when supply and demand requirements have been satisfied without creating shortages or surplus?
general equilibrium
Which causes the price of grain from the plains to fall?
A surplus in crops
What happens When the government intervenes in the market by imposing price ceilings and price floors?
Shortages, Surplus and Unintended consequences.
What is causes a surplus price ceiling or price floor?
A price floor can cause a surplus while a price ceiling can cause a shortage but not always.
What can cause shortages or surpluses of goods and services?
over production can lead to a surplus of goods and/or services, and shortages can occur when demand for a product exceeds the productions of said product
Which causes the price of grain from the plains to fall?
A surplus in crops
What occurs when supply and demand requirements have been satisfied without creating shortages or surplus?
general equilibrium
What are the causes and effects of car shortages at institutions in Namibia?
adsa
What are the causes of labor unrest in 1919?
-Rising Prices -Food Shortages
What happens When the government intervenes in the market by imposing price ceilings and price floors?
Shortages, Surplus and Unintended consequences.
Does droughts affect body?
yes it does because droughts causes agricultural shortages
What are some of the new causes for food shortages in the world?
* global warming * bio-fuel
What is causes a surplus price ceiling or price floor?
A price floor can cause a surplus while a price ceiling can cause a shortage but not always.
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
How did the Europeans benefit the amerindians?
It gave them a great new source of resources, wealth, and land to send off their surplus population to.
What causes shortages for the confederacy during the war in the southern ports?
Union's naval supremacy and blockade of Southern ports.
