The meaning of SCARCITY is the quality or state of being scarce; especially : want of provisions for the support of life. How to use scarcity in a sentence.

In economics, scarcity refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited …

Jun 9, 2025 · In economics, scarcity is a shortage in the supply of a resource that forces up its price, reducing its distribution to the consumers willing to pay a higher price.

SCARCITY definition: 1. a situation in which something is not easy to find or get: 2. a situation in which something is…. Learn more.

Scarcity, also known as paucity, is an economics term used to refer to a gap between availability of limited resources and the theoretical needs of people for such resources.

Definition of scarcity noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.

Oct 11, 2022 · In economics scarcity, or paucity, occurs when there is a disparity between the limited availability of a given resource and the demand for that resource. In theory, human wants can be …

If there is a scarcity of something, there is not enough of it for the people who need it or want it.

1 day ago · In economics, the concept of scarcity conveys the opportunity cost of allocating limited resources. Common resources like clean air and a sustainable climate have been increasingly …

There are two main types of scarcity: absolute and relative. Absolute scarcity refers to the physical limitations of resources, while relative scarcity refers to the value we place on resources.