3 things that are scarce and why
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Demand-induced – High demand for resource.
Supply-induced – supply of resource running out.
Structural scarcity – mismanagement and inequality.
No effective substitutes.
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The gasoline shortage in the 1970's. After poor weather, corn crops did not grow resulting in a scarcity of food for people and animals and ethanol for fuel. Over-fishing can result in a scarcity of a type of fish. Fewer farmers raising cattle can result in a scarcity of milk and cheese.
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