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Scarcity
 
 
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Scarcity (also called paucity) is the problem of infinite human needs
Fundamental human needs

Fundamental human needs, according to the school of "Human Scale Development" developed by Manfred Max-Neef and others , are seen as ontology , are few, finite and classifiable ....
 and wants, in a world of finite
Finite

Finite is the opposite of infinite. It may refer to:* Having a finite number of elements: finite set* Being a finite number, so not equal to ; all real numbers are finite...
 resource
Resource

A Resource is any physical or virtual entity of limited availability.It may also refer to:*Child and Parent Resource Institute, a psychiatric facility in London, Ontario, Canada...
s. In other words, society
Society

A society is a group of humans characterized by patterns of relationships between individuals that share a distinctive culture and/or institutions....
 does not have sufficient productive resources to fulfill those wants and needs. Alternatively, scarcity implies that not all of society's goals can be pursued at the same time; trade-off
Trade-off

A trade-off is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect. It implies a decision to be made with full comprehension of both the upside and downside of a particular choice....
s are made of one good against others. In an influential 1932 essay, Lionel Robbins
Lionel Robbins

Lionel Charles Robbins was a British economics and adherent to the Austrian School of Economics. He is known for his proposed definition of economics, and for his instrumental efforts in shifting Anglo-Saxon economics from its Alfred Marshall direction....
  defined
An Essay on the Nature and Significance of Economic Science

Lionel Robbins' Essay sought to define more precisely economics as a science and to coax substantive implications. Analysis is relative to "accepted solutions of particular problems" based on best modern practice as referenced, especially including the works of Philip Wicksteed, Ludwig von Mises, and other Continental European economists....
 economics as "the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses."

In biology, scarcity can refer to the uncommonness or rarity
Rare species

A rare species is an organism which is very uncommon or scarce. This designation may be applied to either a plant or animal taxon, and may be distinct from the term "endangered species" or "threatened species"....
 of certain species
Species

In biology, a species is one of the basic units of biological classification and a taxonomic rank. A species is often defined as a group of organisms capable of interbreeding and producing fertile offspring....
.






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Scarcity (also called paucity) is the problem of infinite human needs
Fundamental human needs

Fundamental human needs, according to the school of "Human Scale Development" developed by Manfred Max-Neef and others , are seen as ontology , are few, finite and classifiable ....
 and wants, in a world of finite
Finite

Finite is the opposite of infinite. It may refer to:* Having a finite number of elements: finite set* Being a finite number, so not equal to ; all real numbers are finite...
 resource
Resource

A Resource is any physical or virtual entity of limited availability.It may also refer to:*Child and Parent Resource Institute, a psychiatric facility in London, Ontario, Canada...
s. In other words, society
Society

A society is a group of humans characterized by patterns of relationships between individuals that share a distinctive culture and/or institutions....
 does not have sufficient productive resources to fulfill those wants and needs. Alternatively, scarcity implies that not all of society's goals can be pursued at the same time; trade-off
Trade-off

A trade-off is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect. It implies a decision to be made with full comprehension of both the upside and downside of a particular choice....
s are made of one good against others. In an influential 1932 essay, Lionel Robbins
Lionel Robbins

Lionel Charles Robbins was a British economics and adherent to the Austrian School of Economics. He is known for his proposed definition of economics, and for his instrumental efforts in shifting Anglo-Saxon economics from its Alfred Marshall direction....
  defined
An Essay on the Nature and Significance of Economic Science

Lionel Robbins' Essay sought to define more precisely economics as a science and to coax substantive implications. Analysis is relative to "accepted solutions of particular problems" based on best modern practice as referenced, especially including the works of Philip Wicksteed, Ludwig von Mises, and other Continental European economists....
 economics as "the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses."

In biology, scarcity can refer to the uncommonness or rarity
Rare species

A rare species is an organism which is very uncommon or scarce. This designation may be applied to either a plant or animal taxon, and may be distinct from the term "endangered species" or "threatened species"....
 of certain species
Species

In biology, a species is one of the basic units of biological classification and a taxonomic rank. A species is often defined as a group of organisms capable of interbreeding and producing fertile offspring....
. Such species are often protected by local, national or international law in order to prevent extinction
Extinction

In biology and ecology, extinction is the death of every member of a species or group of taxon. The moment of extinction is generally considered to be the death of the last individual of that species ....
.


See also

  • Abundance, its opposite
  • Economic problem
    Economic problem

    The economic problem, sometimes called the fundamental economic problem, is one of the fundamental economic theory in the operation of any economy....
  • Economic shortage
    Economic shortage

    Economic shortage is a term describing a disparity between the amount demanded for a Product or Service and the amount supplied in a market....
  • An Essay on the Nature and Significance of Economic Science
    An Essay on the Nature and Significance of Economic Science

    Lionel Robbins' Essay sought to define more precisely economics as a science and to coax substantive implications. Analysis is relative to "accepted solutions of particular problems" based on best modern practice as referenced, especially including the works of Philip Wicksteed, Ludwig von Mises, and other Continental European economists....
  • Value theory
    Value theory

    Value theory encompasses a range of approaches to understanding how, why, and to what degree humans should or do value things, whether the thing is a person, idea, object, or anything else....
  • Post scarcity
    Post scarcity

    Post scarcity or post-scarcity describes a hypothetical form of economy or society, often explored in science fiction, in which things such as goods, services and information are free, or practically free....
  • Rare species
    Rare species

    A rare species is an organism which is very uncommon or scarce. This designation may be applied to either a plant or animal taxon, and may be distinct from the term "endangered species" or "threatened species"....