Scarcity


Scarcity of resources is one of the most important ideas in economic theory. We explain its strengths and weaknesses, how to measure it and illustrate its use in a number of case studies taken from across different industries and sectors.

Technique Overview

Scarcity Definition

Scarcity means that society has limited resources and therefore cannot produce all goods and services people want or need (O'Connor, 2004).

Scarcity Description *

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Business Evidence

Strengths, weaknesses and examples of Scarcity *

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Business Application

Implementation, success factors and measures of Scarcity *

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Professional Tools

Scarcity videos and downloads *

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Further Reading

Scarcity web and print resources *

Scarcity references (4 of up to 20) *

  • Alonso, E. (2010) Material Scarcity from the Perspective of Manufacturing Firms: Case Studies of Platinum and Cobalt, Massachusetts Institute of Technology's Thesis, available at: http://msl.mit.edu/students/msl_theses/Alonso_E-thesis.pdf
  • Blinch, R., Balmer, C. (2008) Concentrate on Making 2008 Harvest a Success: FAO, Reuters, available at: http://www.reuters.com/article/2008/04/23/us-food-idUSSP32222920080423
  • Clark, A., Carroll, R., Borger, J. (2008) Shops Ration Sales of Rice as US Buyers Panic, The Guardian, available at: http://www.theguardian.com/environment/2008/apr/24/food.usa
  • Heritier, A. (2002) Common Goods, Rowman & Littlefield Publishers, Inc.

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