The Difference Between Scarcity and a Shortage Is That

question 76

Multiple Choice

The difference between scarcity and a shortage is that

• A) scarcity is caused by poverty and shortages are caused by natural disasters.
• B) shortages are a type of scarcity caused by natural disasters while scarcity is caused by human errors.
• C) scarcity always is a part of human life while shortages usually are temporary.
• D) shortages are always part of human life while scarcity is usually temporary.

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Definitions:

Raw Materials

The basic, unprocessed resources required for manufacturing goods or providing services, such as metals, wood, oil, or agricultural products.

Outsourcing

Is the process of hiring outside firms to handle basic HRM functions, presumably more efficiently than the organization could.

Background Checks

The process of verifying an individual’s personal, financial, and/or criminal history, often done by employers to ensure the reliability of potential hires.

HR Duties

The responsibilities of the Human Resources department, including recruiting, hiring, training, and managing employee relations.