OH, GOD WE'RE ALL GONNA DIE
but not really
We don't have it right now, but hopefully later.
Dictionary.com defines shortage as a deficiency in quantity. Shortages as we know them in economics are when producers will not or cannot offer goods or services at current prices. Shortages can be either short or long term but are not endless.
1. Walmart has a special deal on Hot Cheetos. The sale starts on Sunday. You are in to mood for Hot Cheetos and they are cheaper than Takis due to the sale. You go to pick some up on Wednesday. They're aren't any more Hot Cheetos! At that particular store at that particular time, there is a shortage of Hot Cheetos! The shortage will be over when they restock the shelves, whenever that will be. For the moment, you're stuck with Takis.
2. Sally likes to have Nutella on toast every morning. She didn't know it, but her brother Brandon has been having her Nutella. She went to have her morning Nutella on toast and there wasn't any Nutella! There's a shortage of Nutella at Sally's house! Brandon is also in deep doo-doo.