SCARCENESS Meaning and
Definition
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Scarceness refers to the state or condition of being scarce or limited in supply or availability. It is the quality of being rare, insufficient, or in short supply. When something is scarce, it means that it is not easily found or obtained, and its quantity is limited relative to its demand or desire.
In economic terms, scarceness is a fundamental concept that relates to the inherent limitations and the allocation of resources. It is often used to describe the situation where the demand for a particular good or resource exceeds its availability. For example, when there is a scarcity of water, it implies that there is a lack of an adequate supply of water to meet the needs of the population in a given area.
Scarceness can also refer to the perception or perception of something being rare, valuable, or precious. This subjective aspect recognizes that the value or desirability of an item is influenced not only by its physical availability but also by societal perceptions and preferences.
In summary, scarceness underscores the condition of something being in short supply, insufficient, or difficult to obtain. It can apply to various contexts, including economic resources and subjective perceptions of rarity. Understanding scarceness enables individuals and societies to recognize and address the challenges associated with limited resources and make informed decisions regarding their allocation and utilization.
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The condition of being scarce; deficiency.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for SCARCENESS
Etymology of SCARCENESS
The word "scarceness" is derived from the adjective "scarce", which comes from the Middle English word "scarse" dating back to the 14th century. It further traces its origins to the Old Norman French term "escars", meaning "rare" or "restricted in quantity". The Old Norman French word itself can be traced back to the Late Latin word "excarpsus", meaning "rare" or "elegant". Ultimately, the term can be linked to the Latin word "excarpere", which means "pluck out" or "take away". This etymology suggests that "scarceness" essentially refers to the state or quality of being scarce or limited in availability.
Similar spelling words for SCARCENESS
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