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Politics : View from the Center and Left
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To: Cogito who wrote (70553)6/3/2008 6:49:37 PM
From: Broken_Clock  Read Replies (1) of 543633
 
A shortage means that only some of the people who want the oil can get it, at any price. In that situation, the price goes up as buyers try to outbid each other. The losing bidders don't get any oil.
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So how many folks need to be w/o before you say there is a shortage? my definition is sorta like BCB's...if one goes without, there is a shortage.
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