asked 109k views
5 votes
What is the difference between scarcity and shortage?

a.scarcity is temporary while a shortage is permanent.
b.scarcity occurs when goods and services are low because prices are high.
c.shortages are temporary while scarcity always exists because there will always be a greater need for limited resources.
d.a shortage will always exist because when a drought kills crops, those crops are not salvageable, scarcities are temporary.

asked
User Jherax
by
8.8k points

1 Answer

2 votes
C. Shortages are temporary while scarcity always exists because there will always be a greater need for limited resources.
answered
User Mirco Dotta
by
8.1k points
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