Question

question 4 of 8
what happens when the demand for a product or service is greater than the supply at the current market price?
surplus
balance
shortage
equilibrium

Explanation:

In economics, when demand exceeds supply at the current market - price, there are not enough goods or services to meet the wants of consumers. This situation is called a shortage. A surplus occurs when supply is greater than demand, balance and equilibrium imply that demand and supply are equal.

Answer:

C. Shortage