Shortage

By: Estefany ortiz & Rick Martinez

SERVICE STATIONS IN THE PORTLAND AREA CARRYING SIGNS REFLECTING THE GAS SHORTAGE

"A shortage occurs when more people want to buy a good at the current market price than what is available. There are three main reasons why a shortage can occur:

1. Increase in demand (outward shift in demand curve)

2. Decrease in supply (inward shift in supply curve)

3. Government intervention

China has become the factory of the world. The economical growth has benefited the country in many ways. However, the industrialization has been disastrous for the environment and the living conditions of many others. The ground water near Bejing is sinking one meter each year and it has become a serious problem.

china water shortage

Comment Stream