I think there is a semantic game being played because increased prices depresses demand. So in some views a shortage is almost always a fiction.

Think of it this way, gold has a high price, so I only use it in valuable ways, I don’t gold plate my house. If gold was significantly cheaper maybe I would, is there a shortage? Clearly there is a shortage at the price I would pay to gold plate my house. But I am fine using it for jewelry, no shortage at that price.

Your hammer example is the same, there are insufficient hammers at a certain price. Raising price will decrease demand and eliminate the shortage. This increase makes its way through the supply chain increasing prices along the way until demand goes down.

Of course this semantic argument is pointless because what people really want is access to the products they are accustomed to at a price they are accustomed to.