Which of the following describes the difference between "scarcity" and "shortage"? a. in the economic sense, almost everything is scarce. a shortage of a good or service occurs when the quantity demanded is greater than the quantity supplied at the current market price. b. there is a shortage of almost everything. scarcity occurs only if the quantity demanded of a good or service is greater than the quantity supplied at the current market price. c. there is no difference; either word can be used to describe the situation that exists when there is less of a good or service available than people want. d. in the economic sense, almost everything is scarce. a shortage of a good or service occurs when the quantity demanded is greater than the quantity supplied at the equilibrium price.