If there was an extreme shortage of food and after several days you've had nothing to eat would a higher price quell your urge to eat?
So a higher price wouldn't quell your urge to eat, but price controls would?
What about a farmer who needs food for his animals?
With low prices he buys the food and feeds his animals while you suffer from hunger.
With high prices, however, he will probably wait until the supply recovered and prices came down.
Only because you can't imagine why and how somebody doesn't buy it at a higher price, this doesn't mean it's not going to happen. That's why central planning always fails! Because your knowledge is limited and can't compete with the free market.
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