Business, 12.03.2020 05:01, Edwardwall

What is the difference between a shortage and scarcity? A shortage can be temporary or long-term, but scarcity always exists. A shortage is a lack of all goods and services; scarcity concerns a single item. There is no real difference between a shortage and scarcity. A shortage results from rising prices; scarcity results from falling prices.

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What is the difference between a shortage and scarcity? A shortage can be temporary or long-term, bu...