Difference between Scarcity and Shortage?

Question

Difference between Scarcity and Shortage?

Answer 1

Everything is scarce, because the supply is limited.

There's only a shortage when political factors artificially lower the price below the market-clearing price.

Answer 2

Scarcity applies to all things sold in markets because  people will only pay for scarce goods. Things like air, although valuable  are free. Shortage refers to  goods that have had a sudden decrease in supply or increase in demand so markets have not had time to adjust to produce a market clearing price. This may happen because of natural disasters where the supply chains fails, or thru government policy  that prevents markets from working, for example during WWII there were a shortages  and rationing was used to allocate many goods.