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Definition of scarcity


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scar·ci·ty  audio  (skârs-t) KEY  

NOUN:
pl. scar·ci·ties
  1. Insufficiency of amount or supply; shortage: a scarcity of food that was caused by drought.
  2. Rarity of appearance or occurrence: antiques that are valued for their scarcity.



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The American Heritage® Dictionary of the English Language, Fourth Edition.
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