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 …

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

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.

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

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.

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 …

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.

17 hours 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 …

1. Insufficiency of amount or supply; shortage: a scarcity of food that was caused by drought. 2. Rarity of appearance or occurrence: antiques that are valued for their scarcity.