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:

T-Test Statistic

A type of inferential statistic used to determine if there is a significant difference between the means of two groups, which may be related in certain features.

Formula

A concise way of expressing information symbolically, as in a mathematical or chemical formula, representing a relationship between variables.

One-Sample Tests

Statistical tests used to compare the mean of a sample to a known value or standard, in order to assess if the sample comes from a population with that specific mean.

Alternative Hypotheses

In statistical testing, a hypothesis that suggests a difference or effect contrary to the null hypothesis, essentially proposing that an observed effect is real.