is far less than demand.

/ɪz fɑː(r) les ðæn dɪˈmɑːnd/

A phrase describing that the available supply of a good, service, or resource is significantly smaller than the amount people want or need

When affordable housing is far less than demand, rental prices rise quickly in urban areas.

When the amount of affordable housing is much smaller than what people need, rental prices in cities go up rapidly.

Etymology

This common economic phrase evolved from the combination of the basic English words 'far', 'less', and 'demand' to describe the core economic relationship between supply and want.

Memory Aid

Break it into simple parts: 'is' = exists, 'far less' = much smaller, 'than demand' = compared to what people want. The structure directly states its meaning.

Collocations

supply is far less than demandavailable stock is far less than demandavailable seats is far less than demand

Synonyms

short supplyundersupplydeficit of supply

Antonyms

far exceeds demandoversupplysurplus of supply

Related Words

supplyshortagescarcitydemanddeficit