abbiprice17 abbiprice17

08-01-2019
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How is scarcity different from shortages?

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yanipfaff yanipfaff

08-01-2019

scarcity is a naturally occuring limitation on a resource that can't be replenished and shortage is when the amount demanded is greater than the amount supplied. Scarcity would be like diamonds and a shortage would be like out of stock light bulbs

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