Societal Problems → Scarcity
UN Sustainable Development Goals
Description
In economics, scarcity "refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good." If the conditions of scarcity did not exist and an "infinite amount of every good could be produced or human wants fully satisfied ... there would be no economic goods, i.e. goods that are relatively scarce..." Scarcity is the limited availability of a commodity, which may be in demand in the market or by the commons. Scarcity also includes an individual's lack of resources to buy commodities. The opposite of scarcity is abundance. Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself".
"The best example is perhaps Walras' definition of social wealth, i.e., economic goods. 'By social wealth', says Walras, 'I mean all things, material or immaterial, that are scarce, that is to say, on the one hand, useful to us and, on the other hand, only available to us in limited quantity'."
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View all profiles (1 total) in the Yearbook of International Organizations
World Problems relating to Scarcity
From the Encyclopedia of World Problems and Human PotentialLack of understanding
Educational gap between generations
Lack of solidarity with the poor
Lack of adequate clothing supply for little people and large people
Inadequacy of foreign aid
Crop vulnerability
Inadequacies of the international monetary system
Inadequate management of refuse
Air pollution
Inadequate health services
Lack of skilled manpower in rural areas
Ignorance
Shortage of waste landfill sites
Dehumanization of death
Lack of male libido
Physical unfitness
Unnatural methods of conception of same-sex parents
Famine
Stagnated development of agricultural production
Decreasing diversity of biological species
Lack of meaningful personal and social paradigms
Sexual discrimination
Prohibitive cost of linguistic interpretation in legal proceedings
Deterioration of development process
Pacifism
Action Strategies relating to Scarcity
From the Encyclopedia of World Problems and Human PotentialLacking
Protesting lack of integration of environmental and economic issues
Campaigning for environmental protection laws
Promoting entrepreneurship
Ensuring viable financial basis for the United Nations
Banning hazardous waste exports to countries lacking safe handling capability
Existing-Lacking
Providing heroic images
Building skilled labour forces
Providing dietary protein supply
Studying causes of lack of solidarity with the poor
Addressing governmental resistance in response to problems
Relieving scarcity
Creating image of scarcity
Providing local planning resources
Increasing amount
Increasing global funds
Increasing amount of teaching materials
Increasing amount of cultivable land
Increasing amount of food
Increasing amount of funds for research
Increasing amount of non-electrical machinery
Increasing amount of qualified government officials
Increasing quantity of experimental non-human primates
Increasing amount of time for policy making
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