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... Scarcity refers to limited quantities of resources to meet unlimited wants. Post-scarcity is a theoretical economic situation in which most goods can be produced in great abundance with minimal human labor needed, so that they become available to all very cheaply or even freely. Scarcity plays a key role in economic theory, and it's essential for a "proper definition of economics itself." 0 1 2. Asked by Wiki User. Scarcity will always exist. There is no real difference between a shortage and scarcity. In summation, scarcity exists because we live in a society with limited resources and unlimited wants and needs. What is a scarcity, and why does it exist? Real scarcity can also exist by over use of non-renewable resources. Answer. There will always be scarcity. The idea of "post scarcity" is just a tool utilized by advocates to convince the uninitiated that that the advocate's goals are attainable. Wiki User Answered . Because there unlimited wants but limited resources. Scarcity is when the means to fulfill ends are limited and costly. Scarcity exists due to the effects of nature such as drought, floods, storms, pest infestation, fire and other things. Explanation: Scarcity is a basic concept in economics which explains that human wants are unlimited and thus termed insatiable as the resources required to meet those needs are in limited supply. As such scarcity as a concept has always been in existence and will always b. A shortage is lack of all goods and services; scarcity concerns a single item . Tags: Question 10 . 0 0 chizmar Less rain-Rain as we all know has a colossal effect on nature. Scarcity always exists no matter what, while shortages can be temporary or long term. Scarcity. Top Answer. A shortage can be temporary or long-term, but scarcity always exists. Whether it is scarcity of food, or scarcity of energy, or scarcity of space ships, or scarcity of quantum portals. Scarcity is the infinite problem of human needs and wants, and yes it always exists because people always want something and we all need things to live. There are simply never enough resources to meet all our needs and desires. Seasonal Scarcity-Seasonal scarcity takes place in cases where some fruits and vegetables are available only during a particular season. It forces us as a society and individual people to make decisions every day. Scarcity in Economics: Marco-economics is concerned with the study of the entire economy. The opposite of scarcity is abundance. Scarcity also includes an individual's lack of resources to buy commodities. A shortage results from rising prices; scarcity results from falling prices . Scarcity is called the "basic economic problem," meaning that always exists. So, during the rest of the seasons those vegetables and fruits are scarce. A shortage is temporary but scarcity always exists . 2009-10-03 22:34:04 2009-10-03 22:34:04. 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