Scarcity vs Shortage

• Scarcity has limits and depends on the availability of resources and goods, while shortage is a temporary loss of resources or availability of resources.
• Scarcity and shortage are problems in economics that result into the lack of economic goods. 
• The causes of scarcity and shortage are limited resources that cannot be filled up or built up ever again by production.
• Scarcity is the fundamental problem in economics because it has limitation of resources and cannot be replenished while shortage is temporary.