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What does scarcity mean?

Looking for the meaning or definition of the word scarcity? Here's what it means.

Noun
  1. (uncountable) the condition of something being scarce or deficient
  2. (countable) an inadequate amount of something; a shortage
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Examples
This lack of scarcity makes this concert even sillier, as there is nothing special about it.
He believed that the apparent scarcity of land was the result of land speculation and maldistribution that would be remedied by the single tax.
This is inevitable, and a reader may be ill at ease at the scarcity of evidence that underlies many of these reconstructions.
What we know in the secret recesses of our hearts is that the story of scarcity is a tale of death.
The early scarcity of dissolved sulfates and atmospheric oxygen has big implications.
Self-governing bodies are ready to pay whatever amount for the purpose of meeting scarcity of water in needy places.

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