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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 ). Definitions
This strategy of restricting production by firms in order to obtain profits in a capitalist system or mixed economy is known as creating artificial scarcity. [ 1] Artificial scarcity essentially describes situations where the producers or owners of a good restrict its availability to others beyond what is strictly necessary.
ISBN. 1-56849-587-0. The Population Bomb is a 1968 book co-authored by former Stanford University professor Paul R. Ehrlich and former Stanford senior researcher in conservation biology Anne H. Ehrlich. [ 1][ 2] From the opening page, it predicted worldwide famines due to overpopulation, as well as other major societal upheavals, and advocated ...
Shortages related to the COVID-19 pandemic. Surgical and N95 masks shortages were critical during the early pandemic, resulting in purchase quota, non-availability, lower-than-required protections and tarmac airport bidding wars. Here a supermarket in Beijing imposes daily buying limits on surgical masks and disinfectant liquid.
Contronym. A contronym is a word with two opposite meanings; such a word is also known as an antagonym, autoantonym, contranym, or Janus word. [ 1][ 2] For example, the word cleave can mean "to cut apart" or "to bind together". This feature is also called enantiosemy, [ 3][ 4] enantionymy ( enantio- means "opposite"), antilogy or autoantonymy.
Excess supply. In economics, an excess supply, economic surplus [ 1] market surplus or briefly supply is a situation in which the quantity of a good or service supplied is more than the quantity demanded, [ 2] and the price is above the equilibrium level determined by supply and demand. That is, the quantity of the product that producers wish ...
A power outage (also called a powercut, a power out, a power failure, a power blackout, a power loss, or a blackout) is the loss of the electrical power network supply to an end user . There are many causes of power failures in an electricity network. Examples of these causes include faults at power stations, damage to electric transmission ...
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