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- DictionaryScar·ci·ty/ˈskersədē/
noun
- 1. the state of being scarce or in short supply; shortage: "a time of scarcity"
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.
Apr 12, 2024 · 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...
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 definition: insufficiency or shortness of supply; dearth.. See examples of SCARCITY used 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.
In microeconomics, scarcity refers to the idea that resources are limited. It applies to physical resources like land, water, and oil, as well as intangible resources like time, skills, and attention. We have to make choices about how to allocate those resources. There are two main types of scarcity: absolute and relative.
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, someones’ ownership and control excludes someone else's control. Scarcity falls into three distinctive categories: demand-induced, supply-induced, and structural.
Scarcity. The resources that we value—time, money, labor, tools, land, and raw materials—exist in limited supply. There are simply never enough resources to meet all our needs and desires. This condition is known as scarcity. At any moment in time, there is a finite amount of resources available.
Definition of scarcity noun from the Oxford Advanced Learner's Dictionary. scarcity. 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.
SCARCITY meaning: a situation in which there is not enough of something: . Learn more.
