scarcity

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Related to scarcities: paucity

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 periodicals archive ?
53) Over the years, Homer-Dixon has gradually retreated from this position to argue that "under certain circumstances, scarcities of renewable resources .
It could be that nation-level studies, like those mentioned above, fail to capture the effect of resource scarcities that arise locally on the propensities for conflict.
7) Homer-Dixon, "On the Threshold"; Homer-Dixon, "Environmental Scarcities and Violent Conflict"; Homer-Dixon, Environment, Scarcity, and Violence, and Homer-Dixon and Blitt.
We prefer the latter term and will attempt to use that throughout the article in order to try to separate the idea of scarcity of resources from the concept of processes of environmental change that are assumed to cause such scarcities.
28) Homer-Dixon, "On the Threshold"; and Homer-Dixon, "Environmental Scarcities and Violent Conflict.