USA HISTORY

Detailed explanation-1: -A shortage is a situation in which demand for a product or service exceeds the available supply. When this occurs, the market is said to be in a state of disequilibrium. Usually, this condition is temporary as the product will be replenished and the market regains equilibrium.

Detailed explanation-2: -While the supply chain shortages started with COVID, they’re also due to increased consumer demand, which was fueled by the federal stimulus checks that we probably didn’t need to keep the economy recovering. We just didn’t understand how consumer demand was going to shift, once the pandemic began to ease.

Detailed explanation-3: -Supply chain disruptions have a negative impact on global industrial production and trade, and a positive impact on inflation. Our analysis aims to quantify the impact of the aforementioned supply chain shock on activity, trade and prices, and, in turn, the headwinds it creates for the economic recovery.

Detailed explanation-4: -What’s causing America’s supply chain issues? A worker shortage and high demand are causing delays.