Difference Between Scarcity and Poverty
Topic 1 DQ 2 CAT
Create an Analytic Memo that advices an agency leader on the difference between scarcity and poverty
Answer preview
To: Chief Executive Officer
From: Insert Your Name
Date: 08/10/2020
Re: Difference between scarcity and poverty
Scarcity and poverty are two concepts that are used interchangeably. However, they mean something completely different. According to Douglas (2014), scarcity is the problem of satisfying unlimited human wants with limited resources. Due to this problem, people need to make decisions that would enable them to allot resources efficiently…
(350 words)