Scarcity is defined as a state of something being in short supply.(noun)
An example of scarcity is when there is only a tiny amount of a crop produced because of drought and there is not enough to feed the whole town.
See scarcity in Webster's New World College Dictionary
noun pl. scarcities
Origin: ME scarsite < NormFr escarseté
See scarcity in American Heritage Dictionary 4
noun pl. scar·ci·ties
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