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a situation in which something is not easy to find or get: the scarcity of skilled workers. Opposites. abundance formal. plenty. SMART Vocabulary: related words and phrases. Scarce, inadequate and not enough. be at a premium idiom. be thin on the ground idiom. chronic shortage. dearth of something. gold dust. insufficiently. lacking.
Scarcity is an economic concept where individuals must allocate limited resources to satisfy their needs. Scarcity occurs when demand for a good or service is greater than availability....
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.
a situation in which something is not easy to find or get: the scarcity of skilled workers. Opposites. abundance formal. plenty. SMART Vocabulary: related words and phrases. Scarce, inadequate and not enough. be at a premium idiom.
A scarce good is a good that has more quantity demanded than quantity supplied at a price of $0. The term scarcity refers to the possible existence of conflict over the possession of a finite good. One can say that, for any scarce good, someone's ownership and control excludes someone else's control. [20]
What is Scarcity? 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. As a result, entities are forced to decide how best to allocate a scarce resource in an efficient manner so that most of the needs and wants can be met.
/ˈskɛsɪti/ IPA guide. Other forms: scarcities. If there is a cupcake scarcity in your kitchen, there are hardly any cupcakes around, and you're not sure that any will be appearing any time soon. The noun scarcity comes from the adjective scarce, which means "restricted in quantity or availability."
One of the defining features of economics is scarcity, which deals with how people satisfy unlimited wants and needs with limited resources. Scarcity affects the monetary value people place on goods and services and how governments and private firms decide to distribute resources.
noun. /ˈskeəsəti/. /ˈskersəti/. [uncountable, countable] (plural scarcities) if there is a scarcity of something, there is not enough of it and it is difficult to obtain it synonym shortage. a time of scarcity. a scarcity of resources. Extra Examples.
Britannica Dictionary definition of SCARCITY. : a very small supply : the state of being scarce. [count] — usually singular. There was a scarcity of food. [=there was very little food; there was not enough food] wartime scarcities.