The correct answer is A.
Scarcity is an ongoing condition in the world that affects every single country and person, independently of the level of income. It is referred to the existence of limited resources to satisfy unlimited needs. Therefore it requires decission making processes to rank needs and to direct those scarce resources to cover the ones considered more important. Time is a resource, therefore it does not matter how much money you have, it is impossible to do two activities simultaneously, hence, you have to decide and you are affected by scarcity.
On the other hand, a shortage is caused due to a temporary unbalance in a market, specifically when the quantity demanded by consumers exceeds the quantity supplied by the companies operating on it. The result is that some customers will not be able to buy the product they wanted and that the firms could have made higher profits in they had organized better. Due to this temporary misadjustment, prices of the product will go up and less people would demand the product once it has become more expensive. In the end, market forces will reestablish the equilibrium, where the amounts supplied and demanded are equal.
It is true that the United Nations voted to partition Palestine into Jewish and Arab states.
Mercantilism was a widely economic practice during the 16th century - 18th century by countries such as Britain, France, Spain, Portugal, Italy, Germany, Netherlands.
- The economic practice "Mercantilism" is a belief anciently used to conserve nation's wealth and power through increasing exports over imports.
- Thus, a mercantilist an entity who embrace and practice Mercantilism.
In conclusion, a mercantilist will definitely agree the practice is good for the country because its protect and increases the countries economic wealth, leading to increased influence and power.
Learn more about Mercantilism here
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It’s defined by historical context igggggg
