Difference Between Scarcity and Shortage
Main DifferenceEconomics is the branch of science that deals with the factors which determine the production, distribution, and consumption of stuff that is being produced by different companies and organizations. It is about studying the human behavior in which they create a relationship between the society and the resources they have and how they use them in order to meet the demands. There are many terms which are involved in this field that can be confusing for the people who do not have much idea about economics.