SCIENCE
ENVIRONMENTAL SCIENCES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
scarcity
|
|
|
abundance
|
|
|
growth
|
|
|
None of the above
|
Detailed explanation-1: -British English: scarcity NOUN /ˈskɛəsɪtɪ/ If there is a scarcity of something, there is not enough of it for the people who need it or want it.
Detailed explanation-2: -Scarcity falls into three distinctive categories: demand-induced, supply-induced, and structural.
Detailed explanation-3: -Scarcity is one of the key concepts of economics. It means that the demand for a good or service is greater than the availability of the good or service. Therefore, scarcity can limit the choices available to the consumers who ultimately make up the economy.
Detailed explanation-4: -Causes of Economic Scarcity Growing demand and inadequate supply and corresponding economic shortage. Decline in supply due to economic or environmental reasons. Unequal distribution of natural resources creates a scarcity of specific resources in certain places. Government intervention.
Detailed explanation-5: -Land – a shortage of fertile land for populations to grow food. Water scarcity – Global warming and changing weather, has caused some parts of the world to become drier and rivers to dry up. Labour shortages. Health care shortages. Seasonal shortages. Fixed supply of roads. 25-Jun-2019