Economics Surplus and Shortage

If the store has 100 packs of toilet paper and 200 people want to buy it, is it a shortage or surplus?

• shortage

• surplus

If there is 50 donuts made and 40 people buy them, will there be a shortage or a surplus?

• shortage

• surplus

If there is 1,000 halloween costumes at the store and 800 people want to buy a costume is there a shortage or surplus of costumes?

• shortage

• surplus

A small amount of popular toys are released right before Christmas. This will likely lead to a:

• Shortage

• Surplus

Define Surplus

• more items available for sale than people want to purchase

• more people want an item than is available for purchase

Define Shortage

• more people want an item than is available for purchase

• more items available for sale than people want to purchase

Sometimes stores will put things on sale so that there won't be a surplus of goods leftover.

• True

• False