When Does a Shortage Occur

question 2

Essay

When does a shortage occur?

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Definitions:

Gauge Of Inflation

A measure that reflects how much and how quickly prices for goods and services rise over a period, indicating the rate of inflation.

Basket Of Goods

A fixed set of consumer products and services valued on a regular basis for purposes of tracking inflation.

CPI

The Consumer Price Index measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Every Month

Refers to occurrences or measurements that happen or are evaluated on a monthly basis.