scarcity economics

noun plural but usually singular in construction

Definition of scarcity economics

: an economic theory that allegedly justifies limitations of output so as to assure profits

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Cite this Entry

“Scarcity economics.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/scarcity%20economics. Accessed 16 Jan. 2021.

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