Register
Explain (in economic terms) the difference between scarcity and shortage.
8.1k views
5 votes
Explain (in economic terms) the difference between scarcity and shortage.

User Octavian Epure
by
5.0k points

1 Answer

2 votes
Scarcity is a naturally occurring limitation on a resource that can’t be replenish. A shortage is the short term version of that where the item can be reproduced.


Hope this helps :)
User Clint Miller
by
5.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.2m questions

6.7m answers

Other Questions

The appellate court system in Georgia was established by what? A. state statute B. U.S. Statute C. Constitutional amendment D. the supreme court​
Need immediate answer! Giving 5 stars and thanks if you're correct. Checking after test! "It's important to judge others by their merits, rather than their appearance." Which passage from the strangers
People who take a "marble cake" view of federalism believe thatstate governments are too weak to meet most citizen needsstate governments are supreme over the national governmentnational and state governments
A conventional mortgage loan is one that is not insured or guaranteed by an agency of the U.S. government. The lender, however, can still pursue a private mortgage insurance (PMI) policy to provide a guarantee
___________________ provides a method of paying for loss or damage if you are involved in a collision. Restitution Insurance The DMV Your car company
Link Copied!