Scarcity

Scarcity (also called paucity) is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs.

Concept

The notion of scarcity is that there is never enough (of something) to satisfy all conceivable human wants, even at advanced states of human technology. Scarcity involves making a sacrifice—giving something up, or making a tradeoff—in order to obtain more of the scarce resource that is wanted.

The condition of scarcity in the real world necessitates competition for scarce resources, and competition occurs "when people strive to meet the criteria that are being used to determine who gets what." The price system, or market prices, are one way to allocate scarce resources. "If a society coordinates economic plans on the basis of willingness to pay money, members of that society will [strive to compete] to make money" If other criteria are used, we would expect to see competition in terms of those other criteria.

Scarce (band)

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Scarce is an Alternative rock band formed in Providence, Rhode Island, USA. They were active from 1993 to 1997, and reformed in 2008.

Biography

Formed by former Anastasia Screamed singer Chick Graning, Joyce Raskin and Jud Ehrbar in Rhode Island in 1993. Scarce were said to be on the verge of success in 1995 when, after a tour with Hole, lead singer Graning suffered a brain aneurysm and nearly died. Doctors gave Graning a 10% chance of survival, but he recovered and was forced to learn how to walk, talk and eventually, sing and play guitar again.

After Graning had recovered, the band re-recorded much of their album Deadsexy (which had already been released in the UK) with current drummer Joseph Propatier for its 1996 release in the US.

In 1997, due to emotional and musical distances growing in the band, Graning and Raskin decided to part ways and the band split up.

In 2007, Joyce Raskin wrote and illustrated a book about the band called "Aching To Be" which led to Raskin contacting Graning, and then to Scarce's re-forming, ending nine years of silence.

Scarce (disambiguation)

That which is scarce is of insufficient quantity to fulfill all human wants and needs.

Scarce may also refer to: