The given statement is true that a shortage can be either short-term or long-term, but it is not an ongoing condition.
What is the meaning of shortage?
The term shortage is used to define a condition where there is a more demand of a commodity in the market in comparison to its supply. The shortage may be short term or may be of long term, and it is not permanent condition, as it is fully based upon the market.
Therefore, the given statement is true.
To learn more about the shortage, refer to:
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