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.”
scarcity is in the Economics, Politics, & Society subject.
scarcity appears in the definitions of the following terms: appreciation, knowledge economy, strategic stock, scalping and profiteering
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