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Scarcity refers to the fact that for any resource, there's a finite number of whatever it is relative to the aggregate wants and desires of society as a whole.

Shortages refers to a situation in which the price of something is made to be artificially low, so the amount demanded is much greater than the amount supplied.

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11y ago

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Are scarcity and shortage the same?

no definitely not, a scarcity is when the is a small amount of a non-renewable substance (water, clean air, food); and a shortage is a small amount of something we can have again soon (PS3's, chairs, paint)


Does scacity means shortage?

Scarcity means shortage.


What is the difference between scarcity and a shortage?

A shortage can be temporary or long-term, but scarcity always exists.


What is the word for not enough to meet demand.?

shortage scarcity


What does scarcity mean as stated in There was a scarcity of labor in the 13 colonies?

shortage


Another word for scarcity?

shortage


What is the difference between scarcity and shortage?

Scarcity refers to something that is difficult to find. A shortage implies that there is a certain need for the item and that there is not enough of it.


What are some synonyms for scarcity?

Synonyms for scarcity would include shortage, lack, inadequacy.Dearth


Difference between scarcity and shortage?

There seems to be no difference between these words in modern times. Historically a scarcity referred to an amount that was restricted in quantity. A shortage was something that was less than the original required amount. Or less than the scarcity


Shortage and Scarcity?

The word scarcity means that something is hard to obtain. For example, one might see, 'In World War 2 there was a scarcity of photographic film in Britain'. Shortage is more commonly used of essentials, especially food.


What is Society's shortage of resources called?

natural resources


WHAT IS A synonym for the word dearth?

lack, scarcity, shortage, etc...