plain how they relate to one another 4 ) define a shortage 5 ) differentiate between Scarcity and a shortage 5; why can’t we have everything we want ?…

I am coming up on the deadline for my first paper. I have a basic understanding but am looking for some one to help me understand these concepts a little more clearly.

I ] define Scarcity21 define Opp cost3′ explain how they relate to one another4 ) define a shortage5 ) differentiate between Scarcity and a shortage5; why can’t we have everything we want ?I’ also identify the major RESOURCE’S