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shortage

scarcity

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14y ago

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When supply of a product is not enough to meet demand?

scarity


When there isn't enough of a product to meet demand its called?

A shortage.


When a firm makes a profit by producing enough good to meet demand without having leftover supply at what point is it?

When a firm makes a profit by producing enough goods to meet demand without having leftover supply the point of profit is where marginal revenue equals marginal cost.


Which was a factor in Virginia colonists' decision to use slave labor?

there were not enough indentured servants to meet the demands


What does scarcity of resources mean in economics?

There is not enough of something (supply) to meet the demand. This prdonarily means that the price of that commodity will rise.


When determing how much goods to produce what is the firms goal?

to produce enough goods to meet demand while making a profit


When determining how much goods to produce what is the firms goal?

to produce enough goods to meet demand while making a profit


What is a firm's goal when determining how many goods to produce?

to produce enough goods to meet demand while making a profit


Point where demand and supply meet?

The point where supply and demand meet is called market equilibrium.


What is a good sentence with the word increase?

Since I didn't have enough money to pay the rent I asked my boss for an increase in my salary.


What is word for the result of having too little of a product to meet the demand for it?

Scarcity is the result of having too little of a product to meet the demand for it.


When a producer is unable to meet the demand of the certain product?

If a producer is unable to meet the demand for a certain product, then either there will be other producers of the same product who will meet the demand, or if not, then there will be a shortage. Prices will rise.