Question

Shortage and scarcity mean the same thing.

True

False

Answer 1

Scarcity vs Shortage

• Though similar in meaning, shortage and scarcity are used in different contexts.

• Shortage is manmade and can be removed mainly through a price hike or importing the commodity from a foreign country.

• Scarcity is natural and always exists like natural resources that are depleting day by day.

The answer is false

Answer 2

Scarcity does not mean the same thing a shortage so the answer to this question is false.