Meaning & use

scarcity

noun·Academic

A shortage or insufficient supply of something needed or wanted.

See it in a sentence

The drought caused a severe scarcity of clean drinking water in the region.

Economics studies how people make choices under conditions of scarcity.

A note on using this word

A central concept in economics, describing how limited resources must be allocated among unlimited wants.

Words with a similar meaning

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Words with an opposite meaning

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