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Short Supply
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 In a perfect market (one that matches a simple microeconomic model), an excess of demand will prompt sellers to increase prices until demand at that price matches the available supply, establishing market equilibrium. In economic terminology, a shortage occurs when for some reason (such as government intervention, or decisions by sellers not to raise prices) the price does not rise to reach equilibrium. In this circumstance, buyers want to purchase more at the market price than the quantity of the good or service that is available, and some non-price mechanism (such as "first come, first served" or a lottery) determines which buyers are served. So in a perfect market the only thing that can cause a shortage is price. In common use, the term "shortage" may refer to a situation wher ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Short (crater)
Short is a Lunar craters, lunar impact crater that is located in the southern regions of the Moon, on the near side. It lies just to the south of the larger, prominent crater Moretus (crater), Moretus, and northeast of Newton (lunar crater), Newton. This crater lies across an older crater designated Short B. Only the eroded southeastern section of the rim of Short B still survives. There is a cluster of small craters attached to the outer rim within the attached Short B. Short itself is an eroded formation with a somewhat uneven outer rim. The inner wall is more narrow to the southeast and wider elsewhere. Several tiny craterlets lie along the rim edge, as well as the inner wall and floor. At the midpoint of the interior floor of Short is a low central rise. A small crater lies along the northeast edge of this hill. Satellite craters By convention these features are identified on lunar maps by placing the letter on the side of the crater midpoint that is closest to Short. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
