A foreign country begins exporting the product in high volume.
What is an economic downturn?
Economic shortages mean when the need for resources is greater than the supply of that resource, as resources are limited. Scarcity leads consumers to make decisions about how to allocate resources in the best possible way to meet all the basic needs and demands as much as possible.
What are the 3 types of shortages?
Shortages fall into three distinct categories
- demand,
- supply,
- structure.
Learn more about scarcity here https://brainly.com/question/3081250
#SPJ2
