The difference between scarcity and a shortage is that
A) scarcity is caused by poverty and shortages are caused by natural disasters.
B) shortages are a type of scarcity caused by natural disasters while scarcity is caused by human errors.
C) scarcity always is a part of human life while shortages usually are temporary.
D) shortages are always part of human life while scarcity is usually temporary.
C
You might also like to view...
If you are planning to visit wildlife preserves in Kenya, you hope the U.S. dollar appreciates against Kenya's currency
a. True b. False
Use the following supply and demand graph for product X to answer the question below. 
What would happen if the government subsidized consumption of this product because it has positive externalities in consumption?
A. demand would increase B. price would decrease C. supply would increase D. demand would decrease