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 only limited …

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 · Scarcity is a limitation on availability and choice. Scarcity affects the value consumers place on goods and services, making it acceptable for producers to raise prices.

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.

Scarcity refers to the idea that resources are limited, and that we need to make choices about how to allocate them.

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