difference between shortage and scarcity

Question

anonymous · Answer

From what I know scarcity is unlimited and limited resources.
Shortage has to do with the amount the supplier is willing to supply and the given price in a specific time period. 

Hope that I helped. :)

anonymous · Answer

For shortages think of the supply/demand curve. It is when quantity demanded is greater than quantity supplied- meaning there isn't enough goods and services being manufactured by producers to satisfy the needs and wants of consumers. Scarcity refers to the limited wants and needs of a consumer and limited resources.

rane · Answer

good explanation @AnImEfReaK our future economist

anonymous · Answer

@RANE thank you :) I just love econ :D

rane · Answer

i know that thats y i said it