1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alexandra [31]
3 years ago
8

Explain (in economic terms) the difference between scarcity and shortage.

Social Studies
2 answers:
maks197457 [2]3 years ago
8 0

Answer:

Scarcity is used to refer to the idea that, overall in the world, there are not enough resources to meet humans’ unlimited needs and wants.  Scarcity is an on-going condition.  Shortage, on the other hand, refers to a situation caused by an imbalance in supply and demand.  A shortage occurs when producers are not willing or able to supply as much as consumers demand.  A shortage can last a long time or a short time, depending on how long it takes for supply and demand to come into balance.

Explanation:

drek231 [11]3 years ago
3 0
Scarcity is a naturally occurring limitation on a resource that can’t be replenish. A shortage is the short term version of that where the item can be reproduced.


Hope this helps :)
You might be interested in
The difference between ethnicity and race is that ethnicity refers to _____ characteristics, and race to _____ characteristics,
lianna [129]

The difference between ethnicity and race is that ethnicity refers to _____ characteristics, and race to _____ characteristics, distinguishing one group of people from another.

 

The best answer for these are:

1.       Ethnicity refers to the “cultural” characteristics

2.       Race refers to the “biological” characteristics

4 0
3 years ago
Who believed power should not be concentrated in the hands of one individual
masha68 [24]
<span>The options to this question are:
 
A. John Locke
B. Baron de Montesquieu
C. Jean-Jacques Rousseau
D. Cotton Mather

The best answer is:

</span>John Locke believed power should not be concentrated in the hands of one individual.

John Locke was among the foremost powerful<span> political philosophers of </span>the trendy amount<span>. </span>within the 2<span> Treatises </span>of state<span>, he defended the claim that men </span>are naturally<span> free and equal against claims that God had </span>created<span> all </span>individuals<span> naturally subject to a monarch.</span>
3 0
3 years ago
Read 2 more answers
In the 1920s, Secretary of the Treasury Andrew Mellon succeeded in cutting taxes on: a.corporate profits and personal incomes. b
Zarrin [17]

Answer:

a.corporate profits and personal incomes

Explanation:

After being appointed by the then US president, Warren G. Harding, T. Mellon was tasked with reducing the large federal debt accumulated as a result of World War I. Hence, in his bid to achieve the aim, he increased revenue by lowering tax rates so a s to boost the economic activity as well as increasing overall tax revenue by encouraging more people to actually pay their taxes.

His then successfully cut taxes across the board both corporate and personal income tax, which was finally enacted by Congress in the Revenue Acts of 1921, 1924, and 1926.

In turn, the top marginal tax rate fell from 73 percent in 1922 to 24 percent in 1929.

8 0
3 years ago
Read 2 more answers
7.) Which adjective best describes the Islamic caliphate under the Abbasids compared to the caliphate under the Umayyads?
Tcecarenko [31]
7. A
8. A
9. i'm unsure but i think it's B
8 0
3 years ago
Read 2 more answers
What happened to the native populations after the colonization begin?
Paha777 [63]

Answer:

they moved westward

Explanation:

they were 'kicked out' from where they were by the colonists.

4 0
3 years ago
Read 2 more answers
Other questions:
  • The delegates to the Constitutional Convention disagreed about how slaves should be counted for the purposes of taxation and det
    10·1 answer
  • What feature is found in the hill complex of the great Zimbabwe
    7·2 answers
  • How do you think popularity and public approval ratings affect a president's ability to use the informal powers of the office?
    15·1 answer
  • Before and during the civil war, people who spoke out against slavery were called?
    5·1 answer
  • What do you think of Asian Americans? and what's your thoughts about them?
    8·1 answer
  • Following the War of 1812, the US economy
    10·2 answers
  • In which type of dictatorship is power held by a single leader whose demands
    11·2 answers
  • In how many different way can a state be structured?​
    15·1 answer
  • Why is Constantine important to Christianity? (1 point) a He ended gladiatorial contests where many Christians were killed. b He
    11·1 answer
  • What is the best title for this list?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!