Keyword: shortage

Excess Demand Blues - Scalpers profit from ticket shortage (2/23/2004)

Excess demand generated by low concert ticket price created profitable opportunity for scalpers.

Keywords: black market, concert, excess demand, market clearing, scalper, scalping, shortage, ticket price

Happy Hogging! (1/16/2006)

Price hikes in anticipation of shortages can lead to re-allocation of scarce resources to higher-valued uses.

Keywords: gas, hoarding, Katrina, panic buying, price gouging, radio ad spots, resource allocation, shortage

Price Gouging - Historical vs Opportunity Cost cartoon (10/8/2017)

Pricing at opportunity cost rather than historical cost can solve market shortages. In other words, "price gouging" can be an unsung hero.

Keywords: cartoon, historical cost, opportunity cost, price gouging, scarcity, shortage

Rent Ceiling (8/31/2000)

Rent control in Boston, MA has led to most apartments charging rent right up to the price ceiling. The effective rent is actually higher if under-the-table payments are included.

Keywords: apartments, black market, Boston, equilibrium price, price ceiling, rent ceiling, rent control, shortage, under-the-table payment

Supply and demand (11/2/2011)

Market prices and quantities supplied and demanded are determined by the interactions between supply and demand.

Keywords: demand, demand shift, excess demand, excess supply, price determination, shortage, supply, supply shift, surplus

Supply and demand (transcript) (3/27/2007)

Narrated lecture on supply and demand curves and price determination under free market.

Keywords: demand, excess demand, excess supply, quantity demanded, quantity supplied, shortage, supply, surplus