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A 2014 image of product shortages in Venezuela. In economics, a shortage or excess demand is a situation in which the demand for a product or service exceeds its supply in a market. It is the opposite of an excess supply (surplus).
However, the United States is currently experiencing a shortage of nurses and that shortage is expected to worsen drastically in the next few years. In 2000, the supply of registered nurses (RNs) fell short of the demand by 6%. That demand shortfall is expected to increase to 36% by 2020.