Question

People are demanding more apartments than sellers are willing to offer. This means that there is a _____ of apartments. surplus shortage mimimum quantity

Answer 1

People are demanding more apartments than sellers are willing to offer. This means that there is a shortage of apartments.

Answer 2

shortage

Step-by-step explanation:

When demand is greater than the supply of a good, it means that there is a shortage in supply of that good. Probably the price of this good (apartments) tends to rise. Conversely, when demand is less than supply, there is an excess of this good and the price tends to decrease. This is simply the law of supply and demand.