Copyright © Philip M. Parker, INSEAD. Terms of Use.

Definition: Scarcity |
ScarcityNoun1. A small and inadequate amount. Source: WordNet 1.7.1 Copyright © 2001 by Princeton University. All rights reserved. |
Date "scarcity" was first used in popular English literature: sometime before 1380. (references) |
| Domain | Definition |
Dream Interpretation | To dream of scarcity, foretells sorrow in the household and failing affairs. Source: Ten Thousand Dreams Interpreted .... |
Source: compiled by the editor from various references; see credits. | |
(From Wikipedia, the free Encyclopedia)
Scarcity is a central concept in economics. Resources are scarce if any individual would prefer to have more of that good or service than they already have. Most goods and services are scarce - those that are not are known as free goods.Where goods are scarce it is necessary for society to make choices as to how they are allocated and used. Economists study (among other things) how societies perform the optimal allocation of these resources.
For example, we may all want to own gold jewelery. However, the amount of gold available is limited, so it is necessary to make choices as to how it is allocated. In a market economy, this is achieved by trade. Individuals trade resources between themselves to reallocate resources to where they are most wanted. In a smoothly operating market system, the rate of exchange between different resources, or price will adjust so that demand is equal to supply. One of the roles of the economist is to discover the relationship between demand and supply and develop mechanisms (such as pricing, incentives, or penalties) to achieve an optimal outcome (in terms of consumer welfare) between supply and demand.
"Substantivist" economists and economic anthropologists have argued that "scarcity" is a social construct and not a universal.
Certain intangible goods are likely to remain scarce by definition or by design; examples include awards generated by honours systems, fame, and membership of elites. These things are said to have scarcity value; that is to say, all or most of their value is derived from their scarcity.
Further reading:
see also Thomas Malthus
- Georges Bataille's The Accursed Share
- Trade and Market in the Early Empires, edited by K. Polanyi, C. Arensberg, and H. Pearson
- Marshall Sahlins Stone Age Economics
Source: adapted by the editor from Wikipedia, the free encyclopedia under a copyleft GNU Free Documentation License (GFDL) from the article "Scarcity."
Synonym: ScarcitySynonym: scarceness (n). (additional references) |
| Antonym: abundance (n). (additional references) |
| Context | Synonyms within Context (source: adapted from Roget's Thesaurus). |
Insufficiency | Scarcity, dearth; want, need, lack, poverty, exigency; inanition, starvation, famine, drought. |
| Source: adapted from Roget's Thesaurus. | |
Crosswords: Scarcity |
| English words defined with "scarcity": Bergmeal ♦ Calochortus nuttallii, causal ♦ Derth ♦ Honey ant ♦ infrequency ♦ rareness, rarity, ration ♦ sego lily, stringency ♦ tight, tightness. (references) |
| Specialty definitions using "scarcity": crop water rate, cycle drought ♦ Glasgow Magistrate, Gunpowder ♦ King of Bark ♦ occupier's water rate ♦ Patch ♦ relatively less developed ♦ to buy up, to corner. (references) |
| Etymologies containing "scarcity": Derth. (references) |
| Domain | Title |
Books |
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Source: compiled by the editor from various references; see credits. | |
| Thumbnail | Description & Credit | ![]() | Smoking a cigar, an angry President McKinley fights with Spain about the scarcity of Havana cigars due to the Spanish-American War. Credit: Library of Congress. |
Source: pictures compiled by the editor from various references; see picture credits. | |||
| Author | Quotation |
Samuel Johnson | Praise, like gold and diamonds, owes its value only to its scarcity. |
Thomas Love Peacock | The waste of plenty is the resource of scarcity. |
Source: compiled by the editor from various references. | |
| Subject | Topic | Quote |
Health | Two or more factors may explain the relative scarcity of HPS cases among children. (references) | |
However, in the United States, the scarcity of donor hearts limits the number of transplantations to about 2,000 persons a year. Those who qualify for heart transplantation often have to wait months, or even years, for a suitable donor heart. (references) | ||
Business | The increasing scarcity of water resources in China has become a serious threat to the country's future development. (references) | |
Companies in this sector are facing problems competing with imports, due to credit scarcity and lack of incentives to increase production. (references) | ||
Demand for these products has been limited due to the scarcity of financing at reasonable interest rates and to the poor productivity and revenues of the agricultural sectors. (references) | ||
Children | Zambia | A lack of adequate educational facilities and a scarcity of educational materials are problems. (references) |
Civil Liberties | Haiti | With a low rate of literacy (approximately 52 percent) and the relative scarcity of televisions, the most important medium is radio, especially those stations broadcasting in Creole. (references) |
Economic History | Chad | In practice, this law has not been applied due to the scarcity of skilled labor. (references) |
Human Rights | Congo | Prison conditions remained poor due to overcrowded facilities and scarcity of resources to provide food or health care to the inmates. (references) |
Vietnam | Although the Constitution provides for legal counsel for persons accused of criminal offenses, the scarcity of lawyers makes this provision impossible to enforce. (references) | |
Angola | The Government continued to pay increased attention to the rights of prisoners during the year; however, there was no substantial change in practice by year's end because of a scarcity of personnel and resources and a lack of official determination to ensure these rights. (references) | |
Political Economy | PANAMA | Extraordinary quotas have been authorized for rice and pork products when stocks have gone down in order to prevent scarcity of food products. (references) |
JAPAN | While U.S. carriers have been generally happy with the results of the 1998 agreement, scarcity of slots at Narita airport, along with expensive and inadequate facilities, have limited carriers' ability to use new traffic rights. (references) | |
Trade | Nigeria | This facility is made available in local currency and enables manufacturers of exportable goods to procure adequate local materials (which may be seasonal) needed to keep their production at optimal levels particularly during the periods of scarcity. (references) |
Travel | Chad | This scarcity is due in part in the lack of construction materials and the high cost of energy. (references) |
Worker Rights | Namibia | However, the scarcity of judges and lack of expertise in labor law causes lengthy and unnecessary delays. (references) |
Lexicography | Devil's Dictionary | GUNPOWDER, n. An agency employed by civilized nations for the settlement of disputes which might become troublesome if left unadjusted. By most writers the invention of gunpowder is ascribed to the Chinese, but not upon very convincing evidence. Milton says it was invented by the devil to dispel angels with, and this opinion seems to derive some support from the scarcity of angels. Moreover, it has the hearty concurrence of the Hon. James Wilson, Secretary of Agriculture. Secretary Wilson became interested in gunpowder through an event that occurred on the Government experimental farm in the District of Columbia. One day, several years ago, a rogue imperfectly reverent of the Secretary's profound attainments and personal character presented him with a sack of gunpowder, representing it as the sed of the Flashawful flabbergastor, a Patagonian cereal of great commercial value, admirably adapted to this climate. The good Secretary was instructed to spill it along in a furrow and afterward inhume it with soil. This he at once proceeded to do, and had made a continuous line of it all the way across a ten-acre field, when he was made to look backward by a shout from the generous donor, who at once dropped a lighted match into the furrow at the starting-point. Contact with the earth had somewhat dampened the powder, but the startled functionary saw himself pursued by a tall moving pillar of fire and smoke and fierce evolution. He stood for a moment paralyzed and speechless, then he recollected an engagement and, dropping all, absented himself thence with such surprising celerity that to the eyes of spectators along the route selected he appeared like a long, dim streak prolonging itself with inconceivable rapidity through seven villages, and audibly refusing to be comforted. "Great Scott! what is that?" cried a surveyor's chainman, shading his eyes and gazing at the fading line of agriculturist which bisected his visible horizon. "That," said the surveyor, carelessly glancing at the phenomenon and again centering his attention upon his instrument, "is the Meridian of Washington." H |
Source: compiled by the editor from ICON Group International, Inc.; see credits. | ||
| Speaker | Term | Phrase(s) |
Lyndon B. Johnson | 1963-1969 | I will seek new ways to use our knowledge to help deal with the explosion in world population and the growing scarcity in world resources. |
Source: compiled by the editor from various references. | ||
| "Scarcity" is generally used as a noun (singular) -- approximately 100.00% of the time. "Scarcity" is used about 208 times out of a sample of 100 million words spoken or written in English. Its rank is based on over 700,000 words used in the English language. Some parts-of-speech are not covered due to the samples used by the British National Corpus. (note: percents less than one-hundredth of one percent have been omitted) |
| Parts of Speech | Percent | Usage per 100 Million Words | Rank in English |
| Noun (singular) | 100% | 208 | 21,075 |
Source: compiled by the editor from several corpora; see credits.
Expression using "scarcity": scarcity value. Additional references. | |
| Hypenated Usage | |
Ending with "scarcity": labour-scarcity, post-scarcity. | |
| Source: compiled by the editor from various references; see credits. | |
| The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com. |
| Expression | Frequency per Day |
scarcity | 24 |
the scarcity of water | 15 |
economic scarcity | 5 |
economics scarcity | 3 |
article scarcity | 2 |
definition scarcity | 2 |
care health in scarcity | 2 |
oil scarcity | 2 |
resource scarcity | 2 |
| Source: compiled by the editor from various references; see credits. | |
| Language | Translations for "scarcity"; alternative meanings/domain in parentheses. | |
Albanian | rrallësi (rareness, rarity), pamjaftueshmëri (deficiency, inadequacy, insufficiency, lack, scantiness), mungesë (absence, absentness, dearth, deficiency, deficit, destitution, lack, Miss, non-attendance, poverty, shortcoming, short-fall, want, Wantage). (various references) | |
Arabic | نقص في المؤن, نقص (allow, cut, cut down, decrease, deficiency, depress, deprivation, detract, diminish, diminution, disadvantage, drawback, failing, famish, flaw, gap, imperfection, incompetence, insufficiency, knock off, lack, lessen, limit, lower, paucity, rareness, reduce, reduction, retrench, revocation, scantiness, shortage, shortcoming, thin), إحتياج (lack). (various references) | |
Bulgarian | рядкост (curiosity, freak, rareness, rarity, sparsity, virtu), глад (famine, hunger, starvation), оскъдица (dearth, sparsity), недостатъчност (inadequacy, sparsity), недостиг (deficit, famine, insufficiency, lack, privation, scarceness, shortage, stringency, ullage, want), липса (absence, default, defect, deficiency, failure, lack, penury, poverty, privation, shortage, shortcoming, stringency, ullage, want). (various references) | |
Chinese | 缺乏 (Dearth, Deficiencies, Deficiency, lack, Lacked, lacking, scant, scarce). (various references) | |
Czech | nouze (deprivation, destitution, distress, indigence, necessities, need, needs, pinch, poverty, privation, want), nedostatek (absence, defect, deficiency, deficit, demerit, drawback, failing, failure, fault, inadequacy, insufficiency, lack, non-availability, penury, poverty, privation, shortage, shortcoming, want). (various references) | |
Farsi | کمیابی (Infrequency, Paucity, Poverty, Rarity). (various references) | |
Finnish | vähyys (fewness, shortage, smallness), niukkuus (scantiness), harvuus (thinness). (various references) | |
French | rareté (scarceness), raréfaction des ressources en eau, pénurie, manque, disette (scarceness). (various references) | |
German | Knappheit (brevity, conciseness, concision, crispness, famine, insufficiency, lowness, paucity, penury, scantiness, scantness, scarceness, shortage, shortness, skimpiness, succinctness, tautness, terseness, tightness), Mangel (absence, dearth, default, defect, deficiency, deficit, desideratum, drought, fault, flaw, imperfection, lack, mangle, need, paucity, penury, poverty, privation, privations, rotary iron, scarcities, shortage, shortcoming, vise, want). (various references) | |
Greek | έλλειψη (absence, dearth, default of, defect, deficiency, ellipse, failing, lack, shortage, shortage of, shortcoming, want). (various references) | |
Hebrew | מחסור (deficiency, deprivation, insufficiency, lack, misery, need, paucity, scarceness, shortage, want), בצורת (dearth, drought), רעב (famine, famished, gluttonous, greedy, hunger, hungry, ravenous, starvation, yearning), "ירות (dearth, infrequency, rareness, rarity, scarceness). (various references) | |
Hungarian | hiány (absence, blank, dearth, defect, deficiency, deficit, deprivation, failure, hiatus, lack, missing, missing link, poverty, scarceness, shortage, shortcoming, upchuck, want, wastage), vminek a szűke, szűke vminek. (various references) | |
Indonesian | kelangkaan (rarity). (various references) | |
Italian | strettezza (lack, narrowness, scantness, shortage, skimpiness, tightness), scarsit (dearth, lack, poorness, scarceness, shortage, slenderness), scarsezza (jejuneness, paucity, scantiness, scarceness), rarit (curio, exceptional, infrequence, rareness, rarity). (various references) | |
Japanese Kanji | 払底 (dearth, famine, shortage). (various references) | |
Japanese Katakana | すくな', ふってい (dearth, famine, shortage). (various references) | |
Korean | 부족 (Deficiencies, Deficiency, lack, shortage, tribal, tribe). (various references) | |
Pig Latin | arcityscay.(various references) | |
Portuguese | penúria (destitution, famine, paucity, penurity, penury, shortage), insuficiência (defect, failure, insufficiency, paucity, shortcoming), falta (absence, default, deficiency, fail, failing, forfeit, foul, guilt, lack, lacuna, miss, mistake, need, non-attendance, omission, paucity, penurity, penury, privation, shortage, shortcoming, slip, want, wantage), escassez (dearth, famine, paucity, shortage, stringency, want), carência (absence, failure, famine, lack, miss, need, negation, penurity, penury, poorness, shortage, stringency, want). (various references) | |
Romanian | sãrãcie (baldness, barrenness, dearth, destitution, impecuniosity, indigence, meanness, misery, necessity, neediness, poverty, privation, scantiness, scarceness, sterility, stringency, want), raritate (curio, dearth, rare, rarity, scantiness, scarceness, singularity), puţinãtate (fewness, paucity, smallness), neîndestulare (shortage, shortcoming). (various references) | |
Russian | скудость (barrenness, exiguity, scantiness), редкость (curio, curiosity, rara avis, rareness, rarity, sparseness, sparsity, sparsness, white crow), недостаток (blemish, dearth, default, defect, deficiency, demerit, destitution, disadvantage, drawback, failing, failure, fault, flaw, lack, letdown, minus, objection, penury, privation, shortage, shortcoming, vice, want), дефицит (deficit, scarcities, shortfall, shortfall on, shortfalls). (various references) | |
Scottish | gainne (a dart). (various references) | |
Serbo-Croatian | oskudica (dearth, destitution, lack, necessity, need, penury, privation, scarceness, want, wantage), nestašica (dearth, lack, paucity, scarceness, shortage, want). (various references) | |
Spanish | escasez (dearth, famine, lack, meanness, need, parsimony, paucity, poverty, scantiness, scarceness, shortage, sparseness, stinginess, tightness, want). (various references) | |
Swedish | knapphet (dearth, exiguity, paucity, shortage, stringency). (various references) | |
Turkish | nadirlik (infrequency, scarceness), kıtlık (dearth, drought, exiguity, failure, famine, paucity, penury, scantiness, scantness, scarceness, shortage, slimness, sparseness, sparsity), azlık (exiguity, fewness, littleness, minority, paucity, scantiness, scantness, slimness, spareness, tightness), az bulunurluk. (various references) | |
Turkmen | kцst (lack, shortage), kemlik (lack, shortage), kemзilik (shortage). (various references) | |
Ukrainian | рідкість (curio, rareness, rarity), недостача (absence, dearth, failure, lack, need, non-availability, penury, poverty, shortage, shortcoming, shortfall, shortness, want). (various references) | |
Vietnamese | sự thiếu thốn (meagreness, paucity, penuriousness, poverty), sự khan hiếm, sự khó tìm. (various references) | |
Welsh | prinder (scarceness), drudaniaeth (dearth, paucity). (various references) | |
| Source: compiled by the editor from various translation references. | ||
| Language | Period | Translations |
| Latin | 500 BCE-Modern | inopia, inopiae, inopiam, paucitas, paucitate, paucitatem, paucorum, penuria, penuriam. (various references) |
| Source: compiled by the editor from various references. | ||
Misspellings | |
"Scarcity" is suggested in spellcheckers for the following: scacity, scaricty, scarity, Scarpitta, scarsity, starchily. (additional references) | |
| Source: compiled by the editor, based on several corpora (additional references). | |
| # of Phoneme Matches | Pronunciation | Word(s) rhyming with "scarcity" (pronounced ske"rsutē) |
| 5 | -r s u t ē | varsity. |
| 4 | -s u t ē | adversity, analyticity, animosity, atrocity, audacity, authenticity, biodiversity, capacity, complexity, complicity, curiosity, density, laxity, diversity, domesticity, duplicity, eccentricity, elasticity, electricity, ethnicity, falsity, Felicity, ferocity, generosity, incapacity, intensity, mendacity, monstrosity, multiplicity, necessity, obesity, opacity, overcapacity, paucity, perplexity, perversity, pomposity, propensity, publicity, reciprocity, religiosity, simplicity, specificity, tenacity, toxicity, university, velocity, veracity, virtuosity, viscosity, voracity. |
| 3 | -u t ē | absurdity, acceptability, accessibility, ability, abnormality, accountability, acidity, activity, actuality, acuity, adaptability, admissibility, advisability, affinity, affordability, aggressivity, agility, alacrity, alkalinity, ambiguity, amenity, amiability, amity, annuity, anonymity, antiquity, anxiety, applicability, austerity, authority, availability, banality, barbarity, believability, bestiality, bisexuality, brevity, brutality, calamity, capability, captivity, causality, cavity, celebrity, centrality, charity, chastity, civility, clarity, collegiality, commodity, commonality, community, comparability, compatibility, comprehensibility, conditionality, conductivity, confidentiality, conformity, congeniality, congruity, connectivity, constitutionality, continuity, convertibility, creativity, credibility, credulity, criminality, criticality, crotchety, culpability, cyclicality, debility, deductibility, deformity, deity, deniability, dependability, depravity, deputy, desirability, dexterity, dignity, dimensionality, disability, discontinuity, irresponsibility, irritability, laity, legality, disparity, dissimilarity, disunity, divinity, docility, duality, ductility, durability, electability, eligibility, enforceability, enmity, enormity, entity, equality, equanimity, equity, eternity, eventuality, exclusivity, expressivity, extraterritoriality, extremity, facility, fallibility, familiarity, fatality, feasibility, femininity, fertility, festivity, fidelity, finality, flammability, flexibility, fluidity, formality, fragility, fraternity, frivolity, frugality, functionality, futility, generality, geniality, gentility, gratuity, gravity, gullibility, heredity, heterogeneity, heterosexuality, hilarity, homogeneity, homosexuality, hospitality, hostility, humanity, humidity, humility, hyperactivity, hypersensitivity, identity, illegality, illiquidity, immaturity, immobility, immorality, immortality, immunity, impartiality, impersonality, impossibility, impropriety, impunity, impurity, inability, inaccessibility, inactivity, incivility, incompatibility, incongruity, incredulity, indemnity, indestructibility, indignity, individuality, inequality, inequity, inevitability, infallibility, inferiority, infertility, infidelity, infinity, infirmity, inflexibility, informality, ingenuity, inhumanity, insanity, insecurity, insensitivity, instability, instrumentality, insularity, integrity, invincibility, invisibility, invulnerability, irrationality, irregularity, legibility, lethality, levity, liability, liberality, liquidity, lividity, locality, longevity, majority, malleability, maneuverability, marketability, masculinity, materiality, maternity, maturity, mediocrity, mentality, minority, miscibility, mobility, modality, modernity, morality, morbidity, mortality, motility, municipality, musicality, mutuality, nationality, nativity, negativity, neutrality, nobility, Nonconformity, nonentity, nonutility, normality, notoriety, nudity, objectivity, obscenity, obscurity, oddity, opportunity, originality, oversensitivity, palatability, parity, partiality, particularity, passivity, paternity, peculiarity, permeability, perpetuity, personality, piety, plausibility, plurality, polarity, polity, popularity, portability, possibility, posterity, practicality, predictability, principality, priority, probability, probity, proclivity, productivity, profanity, profitability, progressivity, promiscuity, proportionality, propriety, prosperity, proximity, punctuality, purity, quality, quantity, radioactivity, rapidity, rarity, rationality, reactivity, readability, reality, receptivity, reflexivity, regularity, relativity, reliability, respectability, responsibility, retroactivity, rickety, rigidity, salinity, sanctity, sanity, seasonality, security, selectivity, senility, seniority, sensibility, sensitivity, sensuality, sentimentality, serendipity, serenity, severity, sexuality, similarity, sincerity, sobriety, society, solemnity, solidarity, solidity, sorority, speciality, spirituality, spontaneity, stability, sterility, stupidity, subjectivity, suitability, superconductivity, superfluidity, superiority, supermajority, surety, survivability, susceptibility, sustainability, technicality, temerity, theatricality, timidity, tonality, totality, tranquility, transferability, Trinity, triviality, turbidity, ubiquity, unanimity, unavailability, unfamiliarity, uniformity, unity, universality, unpopularity, unpredictability, unreality, unreliability, uppity, utility, validity, vanity, variability, variety, velvety, venality, Verity, versatility, viability, vicinity, virginity, virility, visibility, vitality, volatility, vulgarity, vulnerability. |
Source: compiled by the editor (additional references); see credits. | ||
Scrabble® Enable2K-Verified Anagrams | |
| Words within the letters "a-c-c-i-r-s-t-y" | |
-1 letter: arctics, satyric. | |
-2 letters: arctic, crista, cystic, racist, triacs. | |
-3 letters: airts, artsy, astir, cacti, carts, circa, cycas, satyr, scart, scary, sitar, stair, stray, stria, tarsi, trays, triac. | |
-4 letters: acts, airs, airt, airy, aits, arcs, arts, arty, asci, cars, cart, cast, cats, cays, cist, city, cris, cyst, racy, rats, rays, rias, ryas, sari, sati, scar, scat. | |
| Words containing the letters "a-c-c-i-r-s-t-y" | |
+2 letters: astrocytic, cryostatic, scratchily. | |
+3 letters: antisecrecy, aristocracy, psychiatric, pyroclastic. | |
+4 letters: acrostically, confiscatory, intrapsychic, macrocytosis, microcrystal, pantisocracy, perspicacity, physiocratic, prostacyclin, saccharinity, tachycardias. | |
+5 letters: chalcopyrites, idiosyncratic, microcrystals, prophylactics, prostacyclins, sacrosanctity, sarcastically, tetracyclines. | |
| Source: compiled by the editor from various references; see credits. SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro. | |
| 1. Definition 2. Synonyms 3. Crosswords 4. Usage: Commercial | 5. Images: Photo Album 6. Quotations: Familiar 7. Quotations: Non-fiction 8. Quotations: Speeches | 9. Usage Frequency 10. Expressions 11. Expressions: Internet 12. Translations: Modern | 13. Translations: Ancient 14. Derivations 15. Rhymes 16. Anagrams | 17. Bibliography |
Copyright © Philip M. Parker, INSEAD. Terms of Use.