scarcity

  

Definition

Ever-present situation in all markets whereby either less goods are available than the demand for them, or only too little money is available to their potential buyers for making the purchase. This universal phenomenon leads to the definition of economics as the "science of allocation of scarce resources."

Use scarcity in a sentence

Related Videos




http://www.businessdictionary.com/definition/scarcity.html

Have a question about scarcity? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z