Lack vs. Shortage

By Jaxson

  • Shortage

    In economics, a shortage or excess demand is a situation in which the demand for a product or service exceeds its supply in a market. It is the opposite of an excess supply (surplus).

  • Lack (noun)

    A defect or failing; moral or spiritual degeneracy.

  • Lack (noun)

    A deficiency or need (of something desirable or necessary); an absence, want.

  • Lack (verb)

    To be without, to need, to require.

    “My life lacks excitement.”

  • Lack (verb)

    To be short (of or for something).

    “He’ll never lack for company while he’s got all that money.”

  • Lack (verb)

    To be in want.

  • Lack (verb)

    To see the deficiency in (someone or something); to find fault with, to malign, reproach.

  • Shortage (noun)

    A lack or deficiency; an insufficient amount.


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