False, a shortage is defined as the situation that exists when the quantity of a good demanded is greater than the quantity supplied.
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When amount supplied at the market price is less than quantity demanded, a shortage results. More people than what is currently available are willing and able to purchase the good at the current market price.
A corporation manufacturing a good or service may have miscalculated demand, which prevented it from keeping up with demand, or government regulations like price-fixing or rationing may also be to blame.
Natural catastrophes that wreak havoc on a region's physical landscape can also result in shortages of necessities like food and housing, which raises the cost of those things.
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