SuperGamerBoy12r
Answered

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COMPARE and contrast the terms scarcity and shortage and provide examples of each.

Sagot :

jacegar310

Answer:

Scarcity and shortage are not the same things. Shortage conditions exist when the demand of a good at the market price is greater than supply. ... Scarcity is the concept that we have limited resources and cannot meet the unlimited demand - it has nothing to do with a market price.

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