scarcity

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Scarcity

In classical economics, the fact that resources are limited while desires are unlimited. The existence of scarcity requires the efficient allocation of resources and drives innovation to work around limitations. That is, scarcity often refers to trading one good or service for another, but it may cause an economic actor to invent something that will satisfy as many desires as possible. See also: Land, labor, and capital.

scarcity

the limited availability of economic resources (FACTORS OF PRODUCTION) relative to society's unlimited demand for GOODS and SERVICES. See ECONOMICS.
References in classic literature ?
She had fallen thus many times before, so that she had no particular terror of a fall--it was the delay which appalled her most, and rightly, for scarce had she scrambled to a place of safety than the body of the huge ape dropped at her side and a great, hairy arm went about her waist.
For several minutes they lay with scarce a struggle.
She cannot flee, Since her few tatters scarce suffice to clothe Her shrunken limbs.
During twelve days that he had been wandering alone through these savage mountains, he had found scarce anything to eat.
They had taken scarce a dozen steps when I too dropped to the ground and followed them leisurely toward the shore.
Just how I was to help Perry I could scarce imagine, but I hoped that some fortuitous circumstance might solve the problem for me.
Werper could scarce disguise the joy with which he received this welcome decision.
She took the gourd in one hand, and rather than cause the giver pain raised it to her lips, though for the life of her she could scarce restrain the qualm of nausea that surged through her as the malodorous thing approached her nostrils.
He had scarce got them on, and it was a sore labor, seeing that my inches will scarce match my girth--he had scarce got them on, I say, and I not yet at the end of the second psalm, when he bade me do honor to my new dress, and with that set off down the road as fast as feet would carry him.
she said, in a voice scarce louder than a whisper, but with a tone of startling vehemence, and, seizing the boy, she snatched him from me, as if some dire contamination were in my touch, and then stood with one hand firmly clasping his, the other on his shoulder, fixing upon me her large, luminous dark eyes - pale, breathless, quivering with agitation.
But though these passions ordinarily succeed each other, and scarce twenty-four hours ever passed in which the pedagogue was not, in some degree, the object of both; yet, on extraordinary occasions, when the passion of anger had raged very high, the remission was usually longer: and so was the case at present; for she continued longer in a state of affability, after this fit of jealousy was ended, than her husband had ever known before: and, had it not been for some little exercises, which all the followers of Xantippe are obliged to perform daily, Mr Partridge would have enjoyed a perfect serenity of several months.
In the morning I saw a red deer, a buck with a fine spread of antlers, standing in the rain on the top of the island; but he had scarce seen me rise from under my rock, before he trotted off upon the other side.