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Every place experiences scarcities and shortages. Think about your community and your area: give an example of a scarcity or shortage it experiences.

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Answer: Rightly so, every place experience scarcity or shortages of some sort.

Scarcity can be defined as a lack or deficiency of something. It is a situation whereby something that is readily available is in an inadequate amount.

West Africa, Nigeria, one of the scarcity experienced here is electricity.

In Nigeria, about 40,000 megawatts is needed to sustain the basic population but only about 5,000 megawatts is readily available, that is just 12.5% of the total needed. This a clear definition of scarcity.

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