desh8aqgLav desh8aqgLav

24-03-2016
Social Studies

Answered

What is the difference between a shortage and a scarcity?

AA shortage can be temporary or long-term, but scarcity always exists.
BA shortage results from rising prices; scarcity results from falling prices.
CA shortage is a lack of all goods and services; scarcity concerns a single item.
DThere is no real difference between a shortage and a scarcity.

Verified Answer :

Anonymous Anonymous

27-03-2016

The correct answer is letter c. A shortage is a lack of all goods and services; scarcity concerns a single item. The difference between a shortage and a scarcity is that a shortage is a lack of all goods and services; scarcity concerns a single item.

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