Answer: Rightly so, every place experience scarcity or shortages of some sort.
Scarcity can be defined as a lack or deficiency of something. It is a situation whereby something that is readily available is in an inadequate amount.
West Africa, Nigeria, one of the scarcity experienced here is electricity.
In Nigeria, about 40,000 megawatts is needed to sustain the basic population but only about 5,000 megawatts is readily available, that is just 12.5% of the total needed. This a clear definition of scarcity.
The astonishing construction of dams by China goes to the core of the broader vision expressed in its current Five Year Plan for developing clean energy, reduced pollution, and environmental protection.
Gross domestic product (GDP) is one of the most common indicators used to track the health of a nation's economy. It represents the total dollar value of all goods and services produced over a specific time period, often referred to as the size of the economy.
