What is an example of scarcity rather than sortage?

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1048631

2026-03-03 17:00

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Scarcity refers to the basic economic problem that arises because resources are limited while human wants are unlimited. An example of scarcity is the finite amount of clean drinking water available in a drought-stricken region, where the overall supply cannot meet the population's needs. In contrast, a shortage would occur if there were enough water available but it was temporarily unavailable due to distribution issues or price controls.

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