A market run or run on the market occurs when consumers increase purchasing of a particular product because they fear a
shortage
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).
Definitions
In a perfect market (one that matches a si ...
. As a market run progresses, it generates its own momentum: as more people demand the item, the
supply line
Supply may refer to:
*The amount of a resource that is available
**Supply (economics), the amount of a product which is available to customers
**Materiel, the goods and equipment for a military unit to fulfill its mission
*Supply, as in confidenc ...
becomes unable to keep up. This causes a local shortage, which in turn encourages further hoarding.
Examples include a run on the gasoline market following
hurricane Katrina in 2005, an
ammunition shortage following
President Obama's election in 2008, and
a run on toilet paper following a
Johnny Carson joke on ''
The Tonight Show
''The Tonight Show'' is an American late-night talk show that has aired on NBC since 1954. The show has been hosted by six comedians: Steve Allen (1954–1957), Jack Paar (1957–1962), Johnny Carson (1962–1992), Jay Leno (1992–2009 and 201 ...
'' in 1973.
See also
*
Bank run
*
Panic buying
References
Consumer behaviour
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