Definition of Scarcity in Economics – What occurred to your minds when they hear the term scarcity? Is the loss of soy on the market? Or on kerosene or LPG which suddenly disappeared in the market that makes many ibu-ibu/bapak-bapak have to queue up at dealers kerosene or LPG? The two examples above illustrate the form of scarcity. In meeting the needs of human life is not never satisfied. Diverse human needs and constantly there.

Day to day human needs growing many good quantity, quality, and the s type. Pertambahannya was not worth the resources available. Therefore, there will be some people who do not get the desired means of satisfying needs, either because it is not able to issue the required sacrifices (costs not covered) or because the goods have been exhausted.

The above conditions can be referred to as scarcity. So scarcity can be defined situations or circumstances in which the number of existing resources perceived lack of or insufficient to meet human needs. » Read more: Understanding Scarcity according to Economics