scarcity
American Heritage Dictionary:
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scar·ci·ty
(skâr'sĭ-tē) 
n., pl., -ties.
n., pl., -ties.
- Insufficiency of amount or supply; shortage: a scarcity of food that was caused by drought.
- Rarity of appearance or occurrence: antiques that are valued for their scarcity.
Roget's Thesaurus:
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scarcity
noun
- The condition or fact of being deficient: defect, deficiency, deficit, inadequacy, insufficiency, lack, paucity, poverty, scantiness, scantness, scarceness, shortage, shortcoming, shortfall, underage1. See excess/insufficiency/enough.
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The basic problem on which classical economic theory is built: simply, that human wants will always exceed the resources available to fulfill those wants. This tenet was challenged by the rise of what John Kenneth Galbraith described as the affluent society.
Word Tutor:
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scarcity
IN BRIEF: The condition of being in short supply.
Praise, like gold and diamonds, owes its value only to its scarcity.
— Samuel Johnson (1709-1784), English poet, critic and writer.
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Random House Word Menu:
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categories related to 'scarcity'
- Economics and Economic Theory - scarcity: lack of resources or funds; absence of a certain commodity in demand
- Social Structure and Conditions - scarcity: period or condition of inadequate supply of food or other raw material
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American Heritage Dictionary
The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.
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Roget's Thesaurus
Roget's II: The New Thesaurus, Third Edition by the Editors of the American Heritage® Dictionary Copyright © 1995 byHoughton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.
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Dictionary of Cultural Literacy: Economics
The New Dictionary of Cultural Literacy, Third Edition Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin. All rights reserved. Read more
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