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  Encyclopedia of Keywords > Society > Economics > Scarcity   Michael Charnine

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    This Review contains major "Scarcity"- related terms, short phrases and links grouped together in the form of Encyclopedia article.


  1. Scarcity is the conflict between limited resources and unlimited need.
  2. Scarcity is the condition of having to choose among alternatives due to limited resources.
  3. Scarcity: A situation in which resources are limited and can be used in different ways, so we must sacrifice one thing for another. (Web site)
  4. Scarcity is a misallocation of these services (which are not limitless) due to a pricing problem.
  5. Scarcity is an artificial product of established practices. (Web site)
  6. Scarcity is a device to keep humans ungodly. (Web site)
  7. Scarcity is defined as: when the take on is zero, the bulk pursuited eclipses the bulk supplied.

Economic Problem

  1. Absent scarcity and alternative uses of available resources, there is no economic problem.
  2. Scarcity Main article: Scarcity Scarcity is central to economic theory, known more commonly as the Economic Problem, or Basic Economic Problem.
  3. Absent scarcity und backup uses of cherry pie resources, no economic problem.

Because Scarcity

  1. Because scarcity and decision are central to economic theory, the question of what is the basic trade-off in economics is of central importance.
  2. Because of scarcity, choices among competing claims on the limited resources must be made. (Web site)
  3. Our nation is touted as a nation of abundance, and it is a nation in which scarcities are common, and man-made, because scarcity creates value.

Neoclassical Economics

  1. The focus on scarcity continues to dominate neoclassical economics, which, in turn, predominates in most academic economics departments.
  2. It also protrays the underlying condition of scarcity and unlimited wants, that are paramount for neoclassical economics. (Web site)


  1. Economics deals with the real scarcity of factors of production so as to maximize the production. (Web site)
  2. Communism is a transitional stage rooted still in the neo-classical economics of scarcity. (Web site)
  3. He who contests the existence of economics virtually denies that man's well-being is disturbed by any scarcity of external factors. (Web site)
  4. Chris Anderson correct points out the classical economics is almost exclusive the study of scarcity. (Web site)
  5. That's because economics, we're often taught, is the "science of scarcity" or understanding resource allocation in the presence of scarcity. (Web site)


  1. Scarcity of any particular physical resource is subsidiary to the central question of power relationships embedded in the means of production.
  2. This seemed contrary to economic principles around the relationship between value and scarcity.


  1. The concept of marginal utility has created as much misery for mankind as racism, by keeping basic human needs at a constant level of scarcity. (Web site)
  2. It takes account of both scarcity and desirability by holding that the total value of a good depends on the utility rendered by the last unit consumed.


  1. The definition of economics in terms of scarcity suggests that resources are in finite supply while wants and needs are infinite.

Price Relationships

  1. In addition, in both market oriented and planned economies, scarcity is often explicitly quantified by price relationships.
  2. Economics, because it studies activity and price relationships and the effects of scarcity, grew out of political economy.


  1. Unlike the Economy of Abundance, scarcity requires that businesses make tough choices. (Web site)
  2. It is scarcity, then, that causes consumers to have to make choices. (Web site)


  1. The Economy of Scarcity is a zero sum game -- new offerings necessarily replace old. (Web site)
  2. Digitally, sure, scarcity should be rethought, but I disagree that the cost of the physical infrastructure is approaching zero. (Web site)


  1. Only if you consider people's various petty conflicting desires to constitute scarcity, would they be scarce.
  2. Without scarcity there would be no economic problem, and therefore no need to choose between competing wants and desires.


  1. With scarcity, choosing one alternative implies forgoing another alternative—the opportunity cost.
  2. A small number of economists prefer to define economics as the study of how and why people trade; this definition implies relative scarcity.


  1. We ignored the illusion of scarcity and assumed abundance.
  2. The end result, consumer choose abundance over scarcity (something for everyone) -- Tower Records gets liquidated while iTunes grows dramatically.
  3. In it, he reviews several monetary theories through a lens of scarcity and abundance.
  4. First is scarcity or abundance of alternatives.


  1. Each of these bases its view of scarcity on a different fundamental trade-off.
  2. While pinching pennies seems unpleasant, all clients suffer from the fundamental economic problem of scarcity.
  3. We have fundamental differences of opinion relating to economic value and scarcity that need to be resolved.

Choice Under Scarcity

  1. Economics may in principle be, and increasingly is, applied to any problem that involves choice under scarcity or determining economic value.
  2. Geonomic logic is increasingly applied to any problem that involves choice under scarcity or determining geonomic value.


  1. No longer will the success or failure of content be dictated solely by the Economy of Scarcity (e.g.
  2. I agree that digital technology renders scarcity (almost) meaningless in the context of producing and distributing content. (Web site)
  3. Now the scarcity is primarily in the time of the content creators and, by extension, the capital to pay them while they work. (Web site)


  1. I'm saying that your point about scarcity not exisiting for digital assets ignores the deliberate (if artificial) scarcity inherent in copyright protection. (Web site)
  2. I agree that debates about property rights in the digital age are often distracted by faulty thinking about scarcity. (Web site)
  3. With the advent of digital media and digital duplication, the incremental cost per unit has ceased to overwhelm the scarcity equation. (Web site)

Scarcity Thinking

  1. I saw him talk some 15 years ago about the perils of "Scarcity Thinking".
  2. It's amazing how much of computing is based on scarcity thinking despite Moore's and Gilder's laws.
  3. But the real surprise was to see my radical attack on scarcity thinking echoed a few days later by none other than IAC 's Barry Diller.


  1. Ex post scarcity means that a resource remains scarce even after it is produced and disseminated. (Web site)
  2. The economic theory of endless scarcity and perfect markets attaches nearly scriptural significance to Adam Smith's passing mention of the invisible hand.
  3. Most contemporary definitions of geonomics involve the notions of choice and scarcity.
  4. These constraints - or scarcity - inevitably define a trade-off.
  5. Another set of theories rest on the idea that there is a basic external scarcity, and that "value" represents the relationship to that basic scarcity.


  1. Aggressive budgeting (versus aggressive earning and investing) may be the most financially efficient way to solve the scarcity problem.
  2. So we have issues of scarcity, technology, trespass, and property.
  3. Although generally overwhelmed in the Bible by the law of scarcity, God's making man in his image exemplifies the ideal of plentitude. (Web site)
  4. The focus on scarcity is behind the rise of market capitalism where price is not determined by the cost of production but by scarcity of supply. (Web site)
  5. Scarcity appears to be mutable and fungible, it will always exist in some form, as long as humans strive and compete against each other. (Web site)


  1. Encyclopedia of Keywords > Society > Economics
  2. Encyclopedia of Keywords > Thought > Value
  3. Packages > Tourism > Resorts > Business
  4. Resorts > Business > Marketing > Markets
  5. Encyclopedia of Keywords > Society > Economics > Money
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  Short phrases about "Scarcity"
  Originally created: October 20, 2007.
  Links checked: April 29, 2013.
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