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What is the meaning of scarcity?


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2008-08-20 15:00:57
2008-08-20 15:00:57

Scarcity means "of limited availability" for instance, during a famine food is 'scarce' i.e. there is a scarcity of food. Thus the opposite of scarcity is 'abundance'.

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Under the broadest meaning, scarcity would mean that there are limits to our resources on this planet. A resource or a commodity that exists as a limited quantity would be said to be scarce.

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Scarcity is a situation where there is not enough to satisfy everyone's wants.

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scarcity is the condition of being scarce or less. Usually associated with a certain quantity. Like scarcity of water in a desert. Scarcity of rain in a region

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Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.

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There was a scarcity of water in the desert.


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