Yes. And when people say there is a shortage of food, they mean "at the price they are willing to pay". But new engineers and new foodstuffs will not spring into existence when you add a zero to the price - therefore there is a shortage.
You might want to say but oh, more people will become engineers if salaries are higher! But that doesn't ship products this summer.
There are often real food shortages because of price ceilings. Actual food shortages can be seen when the shelves are empty and food cannot be bought at any price.
