task one is asking? based on sector/industry that you are thoroughly familiar with,critically research yor chosen macro environmental change(emerging theme) in order to establish the otential impact this change may have on the sector/industry. you should use a rang of relevant and credible secondary sources including suitable industry journals/periodicals/publications
The difference between scarcity and shortage must be viewed with an economic eye on the problem. These terms are related to goods and services that are produced for public consumption.
Difference between Scarcity and Shortage
The main difference between scarcity and shortage is that one is based on limited resources and the other is based on the decision of the seller to not sell more than a certain amount of a product at the current selling price.
Scarcity – The unavailability of resources or materials to manufacture the product. When the demand of a product is limitless because of need or desire on the part of the consumer and the resources to manufacture the product are limited, the market experiences a scarcity of the product. When a scarcity exists, the market price of the product will be driven up until the purchase price of the product is equal to the available supply.
Shortage – The reduction in the supply of the item. A shortage occurs when a producer cannot or will not produce an item for the current price.