What is the difference between a scarcity and a shortage? a. A scarcity occurs when producers will not or cannot offer goods or services at the current prices, and a shortage occurs when there are limited quantities to meet unlimited wants. b. Scarcity is the effort that people devote to a task that meets unlimited wants, and a shortage occurs when supplies of goods or services run low. c. A scarcity occurs when supplies of goods and services are suddenly attainable, and a shortage occurs when producers will not or cannot offer goods or services at the current prices. d. A scarcity occurs when there are limited quantities to meet unlimited wants, and a shortage occurs when a good or service is unavailable